In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough hits on the top thing in his notebook before the open, which is the Chinese stock market getting pulverized to new lows alongside a disastrous Chinese #Quad3 (and why he went Long of Indonesia on November 1st, 2021, rather than China.)
“Indonesia is in #Quad2 in Q2, while China is still in #Quad3 stagflation… for those of you who recall, the worst Quad for China consumer (and in particular, China internet) is #Quad3.”
• The Nasdaq Golden Dragon Index (HXC) is down -51% since 11/1/21
• Indonesia (IDX) is up +3.4% since 11/1/21
From McCullough’s Top 3 Things Monday morning 3/14/22:
1. CHINA – remains a disaster equity market with the Chinese economy still in #Quad3 and stocks in Shanghai down another -2.6% overnight to new Cycle Lows - Hang Seng hammered for another -5.0% loss taking its crash to -20.5% in a month!
