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Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye Macro analyst Christian Drake. Click here to learn more about the Early Look.

CHART OF THE DAY: 'Red Shoot' Redux - zx1

The rest of the AM run through doesn’t really need fabricated contextualization so I’ll simply point you to the Chart of the Day below for the Eurozone data redux. 

Suffice to say, “worse” continues to characterize Draghi’s EU growth reality and remains part and parcel of the push-pull topping process for the Dollar.  

With American Exceptionalism (i.e. discrete growth & policy divergence) now rearview, it’s a game of relatives and who gets worse, faster, from here will remain our daily data mapping and risk management exercise.      

CHART OF THE DAY: 'Red Shoot' Redux - CoD 3 AM Red Shoots