Friday, September 19th, 2025


Welcome back Reader!

Pro Tip: If you want bigger charts use desktop instead of mobile

How to Read Chart

Left Side - Daily (Similar Set TREND)

Right Side - 4HR (Similar Set TRADE)

Not a subscriber yet?

When you wake up to trade the markets, what’s your process?

For me, it’s checking the Similar Set Signal to see what developed overnight. Did anything break TRADE or TREND? What’s sitting at the low end of the range within bullish TRADE and TREND? Honestly, it’s hard to remember how I managed without it. I used to scroll Twitter, hoping Keith would mention my positions.

So, what’s changed since yesterday?

2YR

The 2-year yield is higher than it was on Rate Cut day. Remember the panic-driven 50bps Fed cut in September 2024? Bond yields rose because the upcoming Quad was Quad 2 in October. For now, max rate cut expectations are priced in.

Did you notice it broke TRADE? You wouldn’t have unless the Similar Set Signal was on your screen. It’s not a guarantee it’ll hold, but it’s critical information to know.

DXY

The USD’s bounce mirrors the same dynamics.

US Equity

The Similar Set Signal is apolitical, free from perma-bull or bear bias, and it was flashing new all-time highs for SPY, QQQ, and IWM yesterday. As a reminder, a pending Quad Count of 3-2-1 is one of the best setups for a broadening U.S. equity bull market.

VIX

Did you buy “max fear” on Wednesday? The Similar Set Signal told you to.

IWM

Small caps offered two buying opportunities, but pulling the trigger is tough without seeing the signal.

QTUM

Up 13% from where the Similar Set Signal flagged a buy at the low end of the range and TRADE within bullish TREND.

ESPO

Up 9% from the Similar Set Signal’s buy signal at the low end of the range and TRADE within bullish TREND.

PINK

Up 4.9% from where the Similar Set Signal said to buy at the low end of the range and TRADE within bullish TREND.

KRE

Up 4.6% from the Similar Set Signal’s buy signal at the low end of the range and TRADE within bullish TREND.

TOKE

TOKE hasn’t taken off yet, still near the entry point. But by next week, I expect to share a screenshot of this newsletter showing +10% from when the Similar Set Signal said to buy.

Gold

Yesterday: "Buy the dip"

Today: Up 1%

Silver

Bitcoin

Up 5% since breaking into bullish Similar Set TRADE and TREND. The signal is strengthening, with a cross of the low end of the range inside TREND and consolidating well above TRADE. Risk is to the upside, and Bitcoin has catching up to do with equities.

ETH

ETH has been choppier, bouncing around TRADE but staying in bullish TREND. A clear break above TRADE could spark a significant rally.

Crypto M2

The total market cap view shows money flowing into crypto, and looks ready to launch.

Don’t miss out!

The Similar Set Signal gives you the edge to spot opportunities and act with confidence. Subscribe now at Similar Set Signal to get real-time insights and stay ahead of the market.

FREE for 30 DAYS

Similar Set Signal

What are customers saying about the Similar Set Signal?

Your Signal is already paying off nicely

This is exactly what all Hedgeye subs are missing

What a game changer

Accelerated my understanding of the process like you can’t believe

This is the tool I needed!

For the first time since becoming a Hedgeye sub

90 DAYS MONEY BACK GUARANTEE

All you need is a free TradingView account. For FAQ's, how to use Signal, and to see how easy the installation process is, click here .

Similar Set Signal

No official affiliation with Hedgeye. Just a power user that wanted to see what Kieth was seeing on his screen Sign up here to see the tickers Kieth talked about on the Macro Show today.

Read more from Similar Set Signal

Welcome back Reader! How to Read Chart Left Side - Similar Set TREND Right Side - Similar Set TRADE Pro Tip: If you need bigger charts use desktop instead of mobile. New Similar Set Handbook Confused about what's going on in the newsletter? Use Handbook More questions? Drop them on X: @Similar_set “I think financial markets perform best when they react to incoming data… The more the markets are paying attention to what is happening in the real economy… The more financial markets can price...

Welcome back Reader! How to Read Chart Left Side - Similar Set TREND Right Side - Similar Set TRADE Pro Tip: If you need bigger charts use desktop instead of mobile. New Similar Set Handbook Confused about what's going on in the newsletter? Use Handbook More questions? Drop them on X: @Similar_set "Repetition is the real edge. The process, the routine, and the daily reps matter more than bold calls or knockout moments." — Keith McCullough The bold calls only happen in hindsight after the...

""Welcome back Reader! How to Read Chart Left Side - Similar Set TREND Right Side - Similar Set TRADE Pro Tip: If you need bigger charts use desktop instead of mobile. New Similar Set Handbook Confused about what's going on in the newsletter? Use Handbook More questions? Drop them on X: @Similar_set "The answer to WHEN is still process, not prediction. When Market Structure changes, Risk Range dimensions shift, TRADE breaks, and TREND follows the pattern remembers, the Cycle follows sequence,...