Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
The NASDAQ makes all-time highs, daily, and China’s Shanghai Comp is +16.7% in a month. Both continue to signal Bullish TREND @Hedgeye. There is no reason to leave that part of the party, until the party ends!
Make no mistake, when it ends, it will end, abruptly. Do I have a process to measure and map that “risk off” timing? Yes. Will I nail making the turn? I don’t know. My only certainty is that the crowd won’t.
Here’s how I think about it:
A) POSITIVE MOMENTUM (as a Factor Exposure) is getting more positive, daily, on the 2 aforementioned indexes