Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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Sometimes, immediate-term TRADEs are considered Counter @Hedgeye TREND moves. Other times they are the beginning of new Phase Transitions or Bearish to Bullish @Hedgeye TREND reversals. For an example of that, the Global Currency market has a LOT going on right now: A) USD Dollar Index was +1.2% last week towards the top-end of my TRADE Risk Range but remains Bearish TREND … Why? Why don’t we just have Dollar Down vs. everything, forever in Global #Quad2? Well, for starters, not every country is the same in #Quad2. Some Cyclical Country Currencies are stronger than what were Safety Currencies (like Yen and Swissy). Whether it’s the Indian Rupee (up another +0.9% vs. USD last week, reiterating Bullish @Hedgeye TREND) or India’s stock market (up another +3.2% last week to +12.4% in the last month), Non-Consensus Leadership is becoming more common in macro! |
