Positioning for What’s Next in Markets | The Macro Show [FREE EDITION]
•February 4, 2026
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Original Description
The Macro Show is Hedgeye CEO Keith McCullough’s daily, disciplined roadmap for navigating markets through a risk-managed macro process.
In this free edition of The Macro Show, Keith walks through a critical market inflection point and explains what investors should be focused on right now across equities, precious metalals, currencies, and volatility.
He breaks down Hedgeye’s top three signals for the day — global equity leadership out of Asia, an immediate-term breakout in silver, and the shifting setup into earnings season — while reinforcing why gold and precious metals have continued to ramp higher, moves Hedgeye identified well in advance.
See below for timestamps, ways to engage with Hedgeye, and more.
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OUTLINE
0:00 – Welcome to the free edition of The Macro Show
0:50 – Keith’s daily process: waking up early, AI + data prep
1:40 – The “Top 3 Things” that matter most right now
1:42 – #1: Asia leading the global equity bull market
2:00 – South Korea going vertical + global equity opportunities
2:50 – Tech leadership shifting: “Mag 7” vs “Significant 7”
3:40 – #2: Silver breakout and bullish momentum setup
4:30 – Trade, Trend, Tail: Hedgeye’s multi-duration signal model
5:30 – Gold, platinum, and why “when you got in” matters
6:20 – Bearish Bitcoin + fading consensus narrative trades
7:05 – #3: Russell 2000 earnings acceleration + Quad 1 setup
8:00 – Learning through process: books, discipline, probability
10:25 – Risk ranges 101: Buy low, sell high, repeat
11:00 – S&P 500 range + higher lows in the cycle
12:40 – Volatility setup: VIX range, “Chop Bucket,” and signal levels
14:15 – Sector positioning: cyclicals, energy, industrials over tech
15:20 – Dollar volatility cooling + implications for positioning
16:15 – Bond market “Goldilocks” + inflation nowcast outlook
17:05 – Tier 1 Alpha options data: gamma, flip lines, and market moves
18:50 – Implied volatility panic + contrarian opportunity
20:15 – Narratives follow numbers: why performance comes first
21:40 – Global macro positioning: Europe vs Emerging Markets leadership
22:25 – Commodities broadening out + uranium buy signals
23:15 – Key levels for gold, silver, oil, and yields
24:15 – Closing thoughts: fade emotions, follow data, manage risk
30:10 – Wrap-up and thanks for watching
FIND KEITH
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PODCAST & VIDEO LINKS
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