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

CHART OF THE DAY: Quads, Data, Sentiment, Positioning - 1d 40 orig  1

When PE Powell moved to protect The House (the stock and credit markets) yesterday, what did you do? Did you panic, like he did? Did you chase the intraday high? Or did you take that extra deep breath and ask yourself what your process prepared you to do in compressed time?

I get it. We all make mistakes. Some of us win when others lose big too. This isn’t some elementary school test where everyone gets a sticker. This is a game that we all strive to play at the highest level. There is a gross amount of compensation allocated to those with the best results.

In the compressed time period of this morning’s US stock market open, you have another opportunity to take specific actions. Will you “buy stocks” on something like “Biden”? Not if you’re following my #process. #Quad4 + VIX > 31 + HYOAS > 400bps wide remains reality.

CHART OF THE DAY: Quads, Data, Sentiment, Positioning - Chart of the Day