CHART OF THE DAY: Accelerating Inflation Is Critical
12/09/19 07:30AM EST
Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
The Stag in the #LateCycle USA Stagflation came right on time via Down Dollar and Accelerating Commodity Prices:
- CRB Commodities Index had a great week, reflating another +2.6%, and remains Bullish TREND @Hedgeye
- Oil (WTI) ramped +7.3% last week and remains Bullish TREND @Hedgeye during #Quad3
- Energy Stocks (XLE) led US Sector Style gainers at +1.4% last week and remain Bullish TREND @Hedgeye
Not yet long Oil, Energy Stocks, or Cocoa (NIB)? Cocoa prices inflated another +1.5% last week and are +18.3% year-over-year. It won’t take long for the non-quants to start chasing what our subscribers have been buying on dips for the last 2 months.
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