[COMPLIMENTARY] Top 3 Things | China / ECB / SPY

FROM THE DESK

#Bitcoin’s #Quad4 Crash is now at -70% from its #Quad2 Bubble Peak – only need to be up +233% (from here) to get back to breakeven…

1. CHINA – both my #VASP SIGNAL and #Quad Data is giving you the green light to buy-the-damn-dips in Chinese Equities with #Quad2 pending in Q3 and Q4 of 2022. No dip to buy overnight with Shanghai Comp up another +0.5% to +7.2% in the last month (vs. KOSPI and Australia down -6.5% and -7.1%, respectively) post China’s IP #accelerating to +0.7% y/y in May vs. -2.9% in April
2. ECB – oh the sweet sounds of European #Cowbell! Unlike the Fed, who is hell bent on making #PolicyMistakes (tightening into a #Quad4 slowdown and losing control of Bond Market Volatility with the MOVE at 144!), the ECB is back in The Game this morning calling an “emergency meeting” to go incrementally dovish (Italian 10yr Yield is down -28bps in a day here!)… Cowbell = Buy Gold
3. SPY – what just happened to SPY (after it happened to the Russell and NASDAQ, which have crashed -30-33% from their #Quad2 Cycle Peaks) is THE DEFINITION of what happens in a #Quad4 Macro Market (despite Q2 data being #Quad3) = US Dollar CORRELATION RISK goes to -1.0 vs. SPY and SPY crashed -22.1% from its Cycle Peak = USD vs. SPY 15-day inverse correlation = -0.97 this AM 

OUR LEVELS

Immediate-term @Hedgeye Risk Ranges: SP500 = 3; UST 10yr Yield = 2.98-3.50%

KM  

Keith R. McCullough
Chief Executive Officer