CHART OF THE DAY: Europe = U-G-L-Y

06/29/18 07:38AM EDT

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

... This comes on the heels of rancid mainline European consumption data for Q2:

  1. Spanish Retail Sales #slowed to -0.4% year-over-year in MAY vs. +0.7% in APR
  2. German Retails Sales #slowed to -1.6% year-over-year in MAY vs. +1.2% in APR

Those aren’t typos. Those are NEGATIVE year-over-year growth rates. If the USA was printing those “levels” of US consumption growth, the SP500 might be trading at 1000. We’d be entering a US recession.

CHART OF THE DAY: Europe = U-G-L-Y - 06.29.18 EL Chart

CHART OF THE DAY: Europe = U-G-L-Y - early look

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