CHART OF THE DAY: S&P 500 Margins At All-Time Highs

10/02/18 08:29AM EDT

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

Hoowah! This should be fun. Growth, as an equity Factor Exposure, could correct -10% or more on basic expectations disappointments, never mind this Quad 4 speak. What % of money managers who don’t use Hedgeye even know what Quad 4 is? 

And how, with the SP500’s operating margin at an all-time high for the 3rd time in my career (see Chart of The Day), are SP500 margins going to continue to make new all-time highs if: 

A) The US Dollar continues higher … and
B) US Wages continue to #accelerate into #CyclicalPeaks? 

CHART OF THE DAY: S&P 500 Margins At All-Time Highs - 10.02.18 EL Chart

CHART OF THE DAY: S&P 500 Margins At All-Time Highs - early look

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