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Editor's Note: The chart and excerpt below are from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to begin your subscription.

And… as you can see in today’s Chart of the Day, the “pace” (which most of you who are mathematically inclined might agree should be defined as the rate of change) of “gains” in US Non-Farm Payrolls has been slowing since February.


Therefore the most patient investor does nothing on today’s “good” Q2 GDP report and waits for not only the Q3 economic data, but the next 3-6 jobs reports. With “reflation” crashing, we’re only one bad jobs report away from Janet bailing on hikes...

CHART OF THE DAY: Just One Bad Jobs Report Away From Janet Bailing on Hikes... - Z NFP CoD