The latest cover of Barron’s claims “the bull is back.” Keith McCullough isn’t buying it. He says it’s getting harder and harder to find any meaningful data points supporting that statement.
He tweeted about it this morning.
“Very few things don’t look like everything else,” McCullough explains in this clip from The Macro Show. “Where could you be wrong? It’s like, where are you still right?”
Headline retail sales’ year-over-year growth slowed from 7.4% in January to 1.6% in April and 0.6% in June, which McCullough says is “one of the biggest growth slowdowns ever.”
“You see it. You may not feel it,” adds Hedgeye’s CEO.
“Unless you were short Retail (XRT) the entire month of May, you killed that. But did you? Or were you stuck with the same old three or five positions? All I can do is try to help you with what I do.”
Watch the full clip above.
