Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
While I never thought I’d see the 1999 fantasy-land for “stahks” again, I should never say never again! The ongoing divergence between the US stock market’s “year-to-date” gains and the ROC (rate of change) #slowing in earnings in 2019 only has 1 predecessor: the year 2000.
When you wake up to macro markets in the morning, do you wake up to the ROC (rate of change) data or your emotions and Old Wall headlines? I wake up to my process, fully loaded with Quadzilla’s (Darius Dale) aforementioned ROC data.