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Editor's Note: We are pleased to present this brief Contributor View written yesterday by Doug Cliggott. Mr. Cliggott is a former U.S. equity strategist at Credit Suisse and chief investment strategist at J.P. Morgan. He is currently a lecturer in the Economics Department at UMass Amherst. Incidentally, he recently sat down with us here at Hedgeye for a Real Conversations interview. Click here to watch.

Special Guest Contributor View: The Top? - z doug cliggott

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By Doug Cliggott

The OECD released its Economic Outlook this morning and "co-released" their monthly leading indicators with the outlook report.  So the format of the LEI is different this month, but the story remains the same -- US, the OECD as a whole, and China data all continue to weaken. 

The year-on-year decline in the US data is starting to look quite serious.

This data continues to support the contention that peak EPS for the S&P 500 for this cycle is/was a 2015 event -- right now it looks like the $30 operating EPS figure printed for Q2.2015 may have been   

the top ...

Here's the link: http://www.oecd.org/std/leading-indicators/Note_Nov15.pdf