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

What most Macro Tourists do is get sucked into most headfakes (i.e. TRADEs that don’t change TRENDs).

Whereas Full Cycle Investors are ready for that (because they sell-SOME at the top-end of Risk Ranges)… so that they are proactively prepared to buy-MORE during Consolidation Signals like we saw in Commodities in March:

  1. Commodities (CRB) Index loved Dollar Down last week, posting a +3.5% inflation to +10.2% in the last 3 months
  2. Oil (WTI) led the #InflationAccelerating charge, inflating +6.4% last week to +20.9% in the last 3 months
  3. Copper inflated +3.1% last week to +15.6% in the last 3 months
  4. Corn inflated another +2.0% last week to +7.3% in the last 3 months
  5. Lumber inflated an epic +15.0% last week to an even more epic +113.8% in the last 3 months

Yeah dude, there’s “no inflation” … unless you have it in your Full Investing Cycle accounts!

CHART OF THE DAY: Highest/Lowest Expected Values By Quad Regime - ELL