Editor's Note: Below is complimentary access to "The Macro Show." Get the smartest market show available with Hedgeye’s live daily, online video broadcast featuring key market and economic insights, investing implications and interactive viewer Q&A. Hedgeye CEO Keith McCullough is live online every weekday morning at 9:00am ET.
Get access to the rest of the Hedgeye research featured in "Free All Access Day."
The Broadcast Will Begin Soon
HEDGEYE'S TOP 3 THINGS
Below are the top three things from Hedgeye CEO Keith McCullough's Macro Notebook this morning:
- USD – textbook #fail for the British Pound with GBP/USD getting #pounded for a -1% loss after making yet another lower-high within its Bearish @Hedgeye TREND (Euro, AUD, CAD, etc. all doing the same thing, which is the Global #Quad4 thing). There were almost too many moves to make in Global Macro Inverse (USD) Correlation terms yesterday. #execute
- BITCOIN – The Mother of All Bubbles is crashing to new #Quad4 Cycle Lows this morning ($17,434 BTC vs. Long USD, taking its crash to -74% from its #Quad2 All-Time High which, ironically, was made on NOV 8th of 2021!). Good news: the same “Retail Investors” (more like Retail #BagHODLers) that still own Crypto own TSLA (and Elon just sold another $4B of that in their face)
- OIL – from Bullish back to Bearish @Hedgeye TREND as Chinese Stocks had their 2nd down day (and remain Bearish TREND alongside Global Demand – see FDX for an update) post the fake news of “re-opening”… WTI’s @Hedgeye TREND level = $90.47 but the OCT vs. SEP damage was already done for tomorrow’s CPI calc. Industrial Metals remain Bearish TREND too
