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

Why is it still #Quad1, economically (and not #Quad4)? A: yesterday’s data:

A) US Retails Sales #accelerated to +18.2% year-over-year GROWTH in NOV vs. +16.3% in OCT
B) US Mortgage Demand #accelerated another +0.8% last week (DEC number) to an 11-month high  

There are plenty of bearish narratives out there that don’t say a peep about what my predictive algos are saying about these ROC Numbers.

CHART OF THE DAY: Yesterday Had #Quad1 Data  - RS