[COMPLIMENTARY] Top 3 Things | USD / Rates / QQQ

With 1 hour left before the biggest Macro Tourist event of the year, I don’t think CPI matters like Recession Risk does…

1. USD – CPI peaked and is decelerating into a #Quad4 Recession – while it will probably take the Fed, Tourists, etc. another 3-6 months to figure that out, the US Dollar already has figured that out and is about to make yet another big-higher-low within its Bullish #Quad4 TREND. Correlation Risk remains very high and TRENDING on USD up/down days
2. RATES – the bond market, once again, continues to signal the opposite of the uniquely American FOMO (Crypto, Profitless Growth Stocks, etc.) market with the UST 2yr Yield (i.e. Fed Policy expectations) signaling higher-cycle-highs and no change in either my High Yield (HYG) or Junk Bond (JNK) #Quad4 Recession Signals
3. QQQ – there’s -7.3% of immediate-term downside in my NASDAQ Risk Range™ Signal, so maybe we should just start and end with that. Fully loaded with the latest FOMO bounce, NASDAQ remains in #Quad4 Crash mode at -23.6% from its #Quad2 and BubbleCap peak – you SELL GROWTH heading into a Recession

Immediate-term @Hedgeye Risk Ranges: SP500 = 3; UST 10yr Yield = 3.08-3.45%

- KM