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 about the Early Look.  

...What I like about Ray Dalio is that he has a repeatable, data-driven, #process. What I also like about Ray Dalio right now is that, like me, he’s short European stocks! 

No, there aren’t many vocal European Bank Stock bears. Nope, there aren’t many European Sovereign Bond bulls either. That’s what I really like about seeing what consensus is starting to see: European #InflationSlowing

...European Economic data continues to slow this morning. On the heels of Dutch Consumer Spending #slowing to only +0.7% year-over-year growth yesterday, our Chart of the Day is this morning’s key European economic data, in rate of change terms. Red means slowing. We color code the ACTUAL report vs. the PRIOR report:

A) Red if it slows… and
B) Green if is accelerates 

CHART OF THE DAY: Red (Rate of Change) Data In Europe - 03.22.18 EL Chart