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

CHART OF THE DAY: A Bullseye Contrarian Call - zbulls

For all of my friends and foes who didn’t like the Treasury “charts” back when they should have been buying them (SEP, OCT, NOV), I have a sneaking suspicion that some of them like those charts now: 

A) UST 2yr Yield dropped another -7 basis points last week to 2.71% and remains Bearish TREND @Hedgeye
B) UST 10yr Yield dropped another -13 basis points last week to 2.85% and remains Bearish TREND @Hedgeye 

Obviously when Bond Yields are Bearish TREND, being long Treasury Bonds = Bullish TREND @Hedgeye. After 5 straight weeks of bond yields falling, the charts look more like our Quad 4 in Q4 research call.

CHART OF THE DAY: A Bullseye Contrarian Call - 12.10.18 EL Chart