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Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

CHART OF THE DAY: US Consumer? → Slowing - 11 25 2019 7 56 17 AM

As we’ve reminded you since making our US #InflationAccelerating call at the beginning of October, this is classic late-cycle #Quad3 Stagflation in the USA… and the US consumer doesn’t like that. That’s why XLY and AMZN have been making lower-highs since July.

CHART OF THE DAY: US Consumer? → Slowing - Chart of the Day