POSITION: 8 LONGS, 2 SHORTS @Hedgeye
I am on a Delta flight right now, so I’ll keep it brief. With both USD and the UST 10yr yield holding TREND supports, this remains a pro-growth investors market.
Across our core risk management durations, here are the lines that matter to me most:
- Immediate-term TRADE resistance = 1699
- Immediate-term TREND support = 1675
- Intermediate-term TREND support = 1612
Pretty simple. This market remains the one consensus loves to hate – but it also continues to signal higher-lows of support and higher-highs of all-time resistance. We call this a Bullish Formation.
On pullbacks toward 1675, you keep buying the darn dip.
Keith R. McCullough
Chief Executive Officer