Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
Europe is up this morning after signaling immediate term trade oversold on Friday.
We hit the button on Italy (EWI) as there was a breakout to bullish trend. Unlike China and the US which are in Quad 3, Italy and Germany are in Quad 2.
As a friendly reminder for those of you who are new and have not studied the Quads going all the way back, in Q3 of 2017 is when Italy entered Quad 4 so we got you out of there then, but now we’re back to the long side.
You also have India (INDA) that was up a bunch and remains bullish as well. The BSE Sensex was up +1.3% overnight and +4.7%
Italy, Germany, and India show that there will be dichotomies among countries when reporting Quad data. You need to understand the process to properly prepare yourself for the correct move when it happens.
