In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough breaks down the Street’s reaction to the S&P 500 breaking its 50-day Moving Average, and why he faded the panic and bought the #Quad1 dip. From his morning note to Macro Show subscribers:
SPY – the last time SPY “broke” its 50-day Moving Monkey was on OCT 13th. Was that a buy or sell “signal”? The last time SPY had 2 back-to-back down days like that was in OCT of 2020, right when you should have been buying the living daylights out of #Quad2.
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