CHART OF THE DAY: This Late Cycle Indicator Just Hit A 17 Month Low

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

"... For #behavioral evidence of that reality, look no further than one of our better new short selling ideas – US Housing (ITB). Signed contract activity for “Pending Home Sales” contracted another -2.5% sequentially in January. That’s a 17 month low in rate of change terms…"

CHART OF THE DAY: This Late Cycle Indicator Just Hit A 17 Month Low - 03.01.16 Chart