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Editor's Note: This is a brief excerpt and chart from today's morning note written by Hedgeye CEO Keith McCullough. Click here to learn how to subscribe. 

...But, but… “how can you be bullish on Housing and not the US economy?” That’s easy. Because I am. So tell your friends to stop whining about it and buy ITB (Housing) vs short Industrials and Transports (XLI and ITB).

 

Housing is early-to-mid-cycle, whereas Industrials are classic #LateCycle... 

CHART OF THE DAY: We Are Still Bullish on Housing - 06.24.15 chart