In this clip from today’s Top 3 Things on The Macro Show, Hedgeye CEO Keith McCullough breaks down our bullish Dollar positioning despite the #Quad1 economic backdrop, how USD differs in a deep #Quad4, and its performance over the past couple weeks.
“During the last two weeks, the Dollar was what? Dead. Flat. Literally, it moved zero. That’s Goldilocks. Yes, it’s upward sloping (Bullish TRADE & TREND), but it’s dead flat for two weeks.”
McCullough went into greater depth on this dynamic on 12/1/21:
“'Well the backtest says the Dollar can't go up in #Quad1.' That's B.S. The backtest says that the best quarterly return for the $USD is in #Quad4, NOT THAT IT CAN'T GO UP IN ANY OTHER QUAD."