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POSITION: Short SPY

I shorted the SP500 (SPY) again at 1043AM EST today.

As a reminder, Hedgeye’s intermediate-term global macro outlook has 3 core components: 

  1. 1.       Global growth is slowing
  2. 2.       Global inflation is accelerating
  3. 3.       Interconnected risk is compounding 

My refreshed lines of immediate-term TRADE support and resistance lines are 1197 and 1217, respectively.

KM

Keith R. McCullough
Chief Executive Officer

Shorting SPY Here: SP500 Levels, Refreshed - 2