CHART OF THE DAY: Largest Asset Allocation: #Patience

Of course, after 4 consecutive weeks of the beloved Fed (and Fiscal Spenders) Devaluing the US Dollar, consensus is both short of it and chasing its short-term inverse correlations:

1. 15-day inverse correlation between USD and SPY is -0.93!
2. 15-day inverse correlation between USD and Commodities (CRB Index) is -0.92!
3. 15-day inverse correlation between USD and Gold is -0.91!

I’m using Pump exclamation marks because those are extremely high inverse-correlations that eventually mean revert. In other words, they’ll have short-term Counter @Hedgeye TREND moves that catch consensus off-sides, all at once.