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

Remember, our process is multi-durational and what I do versus some of what I say very much depends on the duration of the view. In terms of immediate-term TRADEs, I’ll quite often do the opposite of what I’m thinking in terms of TRENDs.

All that really means is that I’d much prefer selling at the top-end of my @Hedgeye Risk Ranges than being consensus after the move down.

In both US and German Equities (I covered my EWG Short on red as well last week), we’ll get the top of my Risk Ranges this morning. Some of you who are new to my risk management #process freak-out a bit when something is “above the top-end of the range.” Don’t do that.

These aren’t your Old Wall “technical levels” of “resistance” (my Bearish @Hedgeye TREND Signal Level of 2966 would be more akin to those). Risk Ranges are dynamic and ever-changing strike-zones to make good, high probability, decisions.

Since the Risk Ranges I publish daily are based on the prior day’s closing price, I obviously see them moving in real-time. That’s why my Real-Time Alerts product exists. I’m trying to help people who follow me with the intraday dynamism of Risk Ranges changing.

CHART OF THE DAY: Our Process Is Transparent And Multi-Durational - Chart of the Day