CHART OF THE DAY: Fed Fade

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

"... There was literally no other call to make heading into last week’s FOMC interest rate decision, other than that Janet Yellen’s Fed would fade. The US Dollar went down on that – rates did too. Stocks, Bonds, Commodities ripped.

 

Why? On a short-term basis here are some current 30-day inverse correlations vs. the US Dollar Index:

  1. SP500 -0.44
  2. Oil -0.70
  3. CRB Index -0.73
  4. Gold -0.74"

CHART OF THE DAY: Fed Fade - 09.26.16 EL Chart