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Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye Senior Macro analyst Darius Dale. Click here to learn more.

"... All told, the confluence of the aforementioned factors continues to underpin our bearish outlook for domestic equities and credit. Accordingly, we anticipate that the performance divergence between investors who are selling rallies because of deteriorating fundamentals and those who are buying dips because “everyone is bearish” will widen from here.


And even if we’re dead wrong on all the fundamental factors detailed above, there’s always the Chart of the Day for bears to hang their hats on…"

CHART OF THE DAY: A Chart For The Bears To Hang Their Hats On - Chart of the Day 2 24