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. Global growth is slowing
- 2. Global inflation is accelerating
- 3. Interconnected risk is compounding
My refreshed lines of immediate-term TRADE support and resistance lines are 1197 and 1217, respectively.
Keith R. McCullough
Chief Executive Officer