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Editor's Note: This chart and brief excerpt was published in today's Early Look written by Hedgeye CEO Keith McCullough.

CHART OF THE DAY: You Don't Do Macro? Good Luck - zaf

Trying not to “feel” is not easy for we flawed human beings. But, with a data dependent #process, we can certainly try to have the discipline required to do the opposite of what consensus and their charts are doing at critical turns in The Cycle. 

One of the US stock market’s great bellwether’s for the Global GDP Cycle (FedEx) reported earnings last night...

...The stock is still a certified disaster for anyone who didn’t do macro before the macro did them. And no, calling it “cheap” (using the wrong Global GDP #s and FDX EPS #s) wasn’t a catalyst for the stock either. The Fed going dovish was.

CHART OF THE DAY: You Don't Do Macro? Good Luck - If You Don t Do Macro Macro Will Do You