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

Where do Commodities, in Devalued Dollars, go from here?

A) Higher… and
B) A lot higher, faster, the faster the USD Dollar breaks down

Obviously our Full Cycle Investing position is considering the longest of “long-term” durations when considering the big Asset Allocation pivots (like going from #Quad4 Deflation to #Quad2 Inflation Accelerating) of the long-term Cycle.

But even the longest-term investors want to know something about the immediate-term…

On my immediate-term TRADE duration:

A) US Dollar Index has an inverse correlation to Commodities (CRB Index) of -0.86
B) US Dollar Index has an inverse correlation to the SP500 of -0.94

In other words, get the Dollar right, and you’ll keep getting stocks and commodities right (especially Commodity Stocks!).

CHART OF THE DAY: Get The USD → Get The (Asset) Right! - CoD USD vs SPX