Editor's Note: Below is a brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more about the Early Look.
Despite our predictive tracking algorithm ticking up earlier this week on a strong US Durable Goods report:
A) This morning, it ticks down 3 basis points post the Q2 GDP report to 3.50% quarter-over-quarter and…
B) As you can see in the Chart of The Day, that’s really a +2.40% year-over-year forecast @Hedgeye
Looking at that chart of the Hedgeye forecasts in the out quarters, you can also see that we eventually get to a 3% handle in Q1 of 2018. By that time, however, Mr. Market might not be so relentless in ramping growth bears after every dip.
