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Editor's Note: Below is a chart and excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

If you have a dynamic and data dependent #process like mine (fundamental research combined with quantitative risk management signals), your views should change if either:

A)     The fundamental growth, inflation, and/or profit cycle data changes … or
B)      Market PRICE, VOLUME, and VOLATILITY signals change

...So, the answer to The Question is that something big was already changing in my views… and then something else changed, abruptly, within 3 hours of trading into the close on a previously held view

CHART OF THE DAY: Key Quantitative Levels $SPX - 02.09.18 EL Chart