Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here if you'd like to learn more about subscribing to this contrarian daily research note.
BREAKING NEWS: “Soft patch of data eroding the probability of Fed raising rates in 2015” –Hilsenrath, Wall Street Journal
JP Morgan (JPM) reporting a slow-down (and re-testing YTD lows) and Wal-Mart (WMT) losing the most market cap it has in one day in 25 years corroborates with a little more than a “soft patch”, though.
Make no mistake. We’re talkin’ to you. This is a #SuperLateCycle slowdown.