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

Doesn’t this set up nicely for another positive “surprise” by Janet to pivot back to dovish, right before the election? As you can see in the Chart of The Day (her former “favorite” indicator – the Change In Labor Market Conditions Index), it’s very red.

 

And, again, on Friday so was what’s become her new fav indicator – the stock market. Very very, you-gely, red.

CHART OF THE DAY: Janet Yellen's Favorite Indicator (Is Red) - el 09.12.16 EL Chart