11/12/24 07:49 AM EST

CHART OF THE DAY: Quad Shifts & Risky Gold

Below is our "Chart of the Day" and a brief excerpt from today's Early Look written by our Risk-Manager-In-Chief Keith McCullough.

The Cycle continues to cycle and The Machine continues to give us new circumstances to risk manage. One of the biggest ones is what we call US Dollar Correlation Risk:

USD now has an immediate-term TRADE Correlation to SPY of +0.79
USD now has an immediate-term TRADE Correlation to Bitcoin of +0.80
USD now has an immediate-term INVERSE TRADE Correlation to Gold of -0.84

Why is Bitcoin going vertical and Gold correcting? A: #Quad2 expectations are perpetuating USD Correlation Risks.

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