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Below is a chart and brief excerpt from today's Early Look written by Senior Macro Analyst Darius Dale.

To be clear, we entered Q4 thinking the #Quad4-to-#Quad3 rotation would occur later in the quarter and we were wrong on that view. The primary reason for that is earnings have indeed come in better than our expectations, with 347 of 499 constituents having reported +0.2% YoY EPS growth thus far.

As always, investing isn’t about dwelling on what you got right/wrong, but rather understanding why you got what you got right/wrong in order to proactively prepare for the future. 

CHART OF THE DAY: What If The Data Fails To Confirm Global #Quad2? - Are Investors In For A 4Q18 Lite If The Data Fails To Cofirm Global  Quad2

CHART OF THE DAY: What If The Data Fails To Confirm Global #Quad2? - early look