CHART OF THE DAY: Mr. Market Squeezes The Weak Hands

04/30/20 07:41AM EDT

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

What else in the #process isn’t random this morning?

A) US Dollar – great spot to buy more at the low-end of my Risk Range for the US Dollar Index if it gets there today
B) FX – process had me waiting for the top-end of Risk Ranges in EUR, GBP, and AUD (looking to re-short those vs. USD)
C) US Equity Volatility (VIX) – still signaling immediate-term upside to 47.95, so shorting more SP500 equal weight (RSP)
D) NASDAQ (QQQ) joins US Healthcare (XLV) and Consumer Staples (XLP) as Bullish @Hedgeye TREND signals this AM
E) MSFT, AMZN, and TSLA are all confirming what have been Bullish @Hedgeye TRENDs in the daily Risk Range product
F) Industrials (XLI), Financials (XLF), and Regional Bank Stocks (KRE) move to the Top 3 Sector Style Shorts, in that order

As I reminded my children last night, the only true knowledge you’ll obtain in anything you love doing is by holding yourself accountable for your own mistakes. Once you learn from that, you’ll expect to win. It won’t be random.

CHART OF THE DAY: Mr. Market Squeezes The Weak Hands - Chart of the Day

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