11/16/21 07:54 AM EST

CHART OF THE DAY: Would A #Quad4 Morning Trigger You?

Keith McCullough

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

If I was only to use a 3-factor model and I used USD, Gold, and Bitcoin, this morning would absolutely be a #Quad4 macro market morning. Why? Looking at historical back-test data (quarterly returns by Quad):

USD’s (US Dollar Index) only meaningful positive absolute return comes in #Quad4
Bitcoin’s only meaningful TRENDING draw-downs happen in #Quad4
Gold loves it when the economic Quad shifts from #Quad2 (which it hates) to #Quad4

CHART OF THE DAY: Would A #Quad4 Morning Trigger You?

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