Below is a chart and excerpt from today's Early Look written by Director of Research Daryl Jones. 

Rate of Change matters.

Incoming data also matters. This morning we got the NFIB Small Business Sentiment survey. The forward outlook component of the survey came in at -61 (featured in the Chart of the Day below). The outlook from small businesses in the U.S. is as bad as it has ever been.

CHART OF THE DAY: NFIB Small Buisness Outlook - nfib1