01/15/25 07:57 AM EST

CHART OF THE DAY: Hot! ➡ Small Business Confidence

Keith McCullough

Below is the "Chart of the Day" and a brief excerpt from today's Early Look written by Hedgeye Founder & CEO Keith McCullough.

As you can see in today’s Chart Of The Day (slide 61 of the current Q1 Macro Themes deck that we presented last week):

NFIB US Small Business Forward Outlook went from -60 at the LOW of the US GROWTH Cycle that we called in 2022…
Towards -10 heading into the US Election …
Accelerating to +36 and +52 in the last 2 months, respectively!

Is that way too hot? A: I have no idea. I don’t tell cycles, their data, and/or markets what they should do. Again, I just do what the data and The Machine’s Signals are doing!

CHART OF THE DAY: Hot! ➡ Small Business Confidence

Cartoon of the Day

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Small Business Confidence Soars to 1983 Highs

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Cartoon of the Day: Hot Air

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