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In this morning’s edition of The Macro Show, Hedgeye CEO Keith McCullough explains the difference between Hedgeye’s Risk Range™ Signals and Old Wall price targets using our bullish outlook on Oil.

“The target is daily. When a hunter goes into a bush looking for live animals, he knows the animals move. The target changes,” explains McCullough, as he walks through his CPI Nowcast Model.

“This is going to be the largest draw on crude oil in a decade. And this is with the rest of the world reopening. And then there’s oil demand; we’re already running at 3 million barrels per day in June. That could easily be 5-5.5 million. So you’re going to have a huge draw as demand swoops in.”