In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough discusses the top macro signals in his notebook today, including the Dollar briefly failing the Hedgeye TREND Signal test, as well as the correlation with Oil and last week’s gains.
"If you get the Dollar right, you get a lot of other things right. Oil’s up over +3% coming out of options expiration. So $WTI is Bullish TREND, Bearish TRADE. What do you do with that? Well as volatility rises, Trade lines can break. It can either be a headfake or a counter-TREND move, or not. I don’t know how this’ll play out, but I do have a #process to measure and map it," explains McCullough, highlighting his outlook for the Dollar and Oil, and the key levels he’s focused on which could signal a TREND change.