|
Editor's Note: The Macro Show is the only pre-market show gearing you for the days and weeks ahead, devoid of narratives and packed with data-driven macro analysis. Hosted by Hedgeye CEO Keith McCullough live at 9:00am ET, this daily online broadcast offers smart investors sharp insights and actionable investment ideas. Enjoy this complimentary edition below. |
Watch the replay below
CLICK HERE to access today's slides
HEDGEYE'S TOP 3 THINGS
Below are the top three things from Hedgeye CEO Keith McCullough's Macro Notebook this morning:
1) ASIA – What was THE tell? It’s never just 1 thing – it’s everything, always. Hang Seng +1.1% and up for the 3rd day after signaling immediate-term TRADE #oversold on Monday (i.e. cover some EWH, FXI, CHIQ, etc. shorts) vs. India ramping to new Cycle Highs, +1.5% overnight to +8.5% in a month and Select EM Longs like Thailand up another +1.3% with USD Down.
2) VIXVol – As opposed to being an emotional, single-factor, pre-internet person using a 50-day Moving Monkey (selling and reducing exposure at Monday’s lows), we use a 3-factor, PRICE/VOLUME/VOLATILITY model that just saw Volume explode +36% day-over-day on the UP move with implied volatility on SPY going from +104% to +55% and downside on VIX towards 15.13.
3) UST 10YR – Big #AntiContagion Signal, the bond market had, with High Yield Spreads collapsing towards Cycle Lows and the UST 10YR Yield A) making another higher-low and B) +3bps back to Bullish @Hedgeye TREND this morning – what does that mean? Probability of #Quad2 returning in Q4 is rising post the #Quad3 in Q3 variant narrative and COVID slowdown.
HedgeyeTV
MCCULLOUGH: RISK MANAGE YOUR GAINS BY NAILING THE QUAD
In this clip from The Macro Show, Hedgeye CEO Keith McCullough talks Quad Pivots: how to preserve and protect your gains and manage losses amid a Quad shift out of a DEEP Quad 2 or Quad 4.
CLICK HERE to watch the clip.
