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Editor's Note: Below is a chart from today's Early Look written by our Senior Macro analyst Darius Dale.

CHART OF THE DAY: A Real Texas Hedge --> $SPY vs $TLT - ztex

Are you currently doubting the resilience of the Raging Bull?

OK, maybe “resting” bull is more appropriate with the S&P 500 down -14.8% from its 9/21 all-time high.Yes, the market peaked nearly three months ago to the day and within a week of our making the #Quad4 in Q4 on September 27th. I recall remarking to Keith in-between prospective client meetings in Dallas the week prior, “No one believes our #Quad4 forecast; they will when it smacks them in the PnL.” (smack in the football tackle/hockey check sense) 

...Juxtapose those returns with the returns some of the #Quad4 heroes currently saving a lot of investors’ years – certainly on a relative basis, but also in absolute terms as well...  All told, to the extent you’re looking for incremental catalysts for the Raging Bull market in Treasury bonds – if only for your PA – then look no further than The Cycle. Indeed, the only Wall St. strategist that shares our outlook for domestic growth and inflation is Mr. Market himself. 

CHART OF THE DAY: A Real Texas Hedge --> $SPY vs $TLT - Chart of the Day