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

While the CRB Commodities Index (19 commodities) bounced +1.8% with the USD down last week, it’s only +0.1% YTD and remains Bearish TREND. I get the Quad 2 reasoning for the bounce. The data supported that bounce and the bounce in the UST 10yr Yield.

In Quad 4 (our Q4 2018 forecast) though, long inflation expectations (Commodities) and short Treasuries (biggest net SHORT position currently in all of macro), is not where we want to be.

CHART OF THE DAY: The Investing Implications of U.S. #GrowthSlowing - 09.24.18 EL Chart

CHART OF THE DAY: The Investing Implications of U.S. #GrowthSlowing - early look