While Wall Street fixates on today's Fed meeting, Hedgeye CEO Keith McCullough is focused on what really matters: market signals.
As Hedgeye forecasts a potential monthly Quad 4 in July, McCullough points to two leading indicators flashing that shift—U.S. rates and the dollar.
“We haven’t had [a Quad 4 shift] outright in the USA,” McCullough says, “but yesterday was day two out of three.”
The setup, he says, is textbook Quad 4: Dollar up, bond yields down, and stocks down.
“I’d also be remiss to say I don't give a sh*t what the Fed says today.”
"I'm not saying that the Fed can't surprise. I'm saying I'm set up for a ‘not surprise."
Until an outright #Quad4 appears, we continue to fade #Quad2.
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