CHART OF THE DAY: Initial Jobless Claims Data

10/22/21 07:57AM EDT

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

Full Cycle Investors who positioned for #Quad2 in Q4 were winning, again, yesterday:

A) US Jobless Claims got the bond yield ball rolling with a new Cycle Low (not mid cycle, Mike) yesterday
B) UST 2yr and 10yr Yield ramped to new #Quad2 in Q4 (OCT) Cycle Highs of 0.46% and 1.70%, respectively
C) US Stahks! (SPY) punched their ticket for the 55th all-time closing high in 2021

And that all happened with the 2 Top Sector Players in The Game (Energy and Financials) being down on the day!

Nice call you Mucker (that’s with an M), but now what? Oh, that’s easy to see this morning with Commodities inflating again and the US Dollar making the linear-chartists who called it a “breakout” 2 weeks ago look silly.

Dollar Down, Commodities Up, Rates Up, Stocks Up = #winning.

CHART OF THE DAY: Initial Jobless Claims Data - initialClaim

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