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

Oh, I almost forgot “STOCKS” (no I didn’t), which generally continue to signal Bullish TREND @Hedgeye with SPY, DAX, Nikkei all moving back up towards the top-end of their respective @Hedgeye Risk Ranges on the latest equity market catalyst, the virus?

Whatever the catalyst was (FOMO, performance chasing?), I don’t particularly care… mainly because my PRICE/VOLUME/VOLATILITY signaling process doesn’t. If you’re a Macro Tourist trying get around London, my signals are as “dumb” as a bunch of taxi drivers, I guess.

Dispassionate and data-driven market signals are deliberate. 

CHART OF THE DAY: SPY Provides Middling Return - The SPY Provides Investors With A Middling Return Across Every Economic Regime