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

If the SP500 and 1 of our 4 Horsemen (the Financials, XLF) were companies, their Pod 2’s would look like this:

A) 224 of the SP500’s companies have reported an aggregate EPS #acceleration of +57.3% year-over-year growth
B) 48 of 65 Financials (in the SP500) have reported an aggregate EPS #acceleration of +183.1% year-over-year

And thou valuation expert is going to SELL Financials, SPY, etc. and buy Utilities (XLU) ahead of that? lol

Cmon man. Obviously we’re coming off the LOWS of both the INVENTORY and EMPLOYMENT Cycles. As obviously, we’re breaking out to NEW CYCLE HIGHS for the Pod 2 (EARNINGS) Cycle.

Shall thy taper derail thy froth?

Nope. The much more market important thing PE Powell said yesterday was that:

A) There will be no taper anytime soon … and
B) There will be #cowbell

Central market planning #cowbell, that is. And this kind of #cowbell says nothing of my tickle-brained Hedgeyes. It is designed to combine the most epic fiscal spending of all-time with the CTRL+Print function of The Fed.

CHART OF THE DAY: Sales Growth | Earnings Growth  - 4 29 2021 7 27 12 AM