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

But what’s today? Is it another #Quad4 day? Nope, not yet. For those of you who are new to my risk management process, #Quad4, economically, is when both GROWTH and INFLATION are SLOWING at the same time. It’s also when:

A) The US Dollar is going up
B) The US 10yr Yield is going down… and
C) Everything I am long in #Quad2 is going down

Oh, yeah. We’ll eventually get there, Big Fella. But, in the meantime, Chewie, we still have to deal with today. So keep your portfolio at a distance from The Return of #Quad4 because:

A) I shorted the US Dollar yesterday
B) I re-shorted the Long Bond (after covering most of my TLT last week)… and
C) I bought the damn dip in everything that was at the low-end of my Risk Ranges yesterday

CHART OF THE DAY: Return Of The #Quad4... LOL - CoD Return of the Quad4