S&P Earnings – Is this fodder for a rally?

Roughly 38% of companies have reported, so we’re not yet ready to provide our quarterly earnings, P/E, and rolling P/E charts, but I couldn’t help myself when I saw this chart:

(Source: Chart of the Day)

Of course we have some companies beating the massively reduced earnings, but so what? This rally may continue, and The Chartist and Richard Russell’s Dow Theory may be signaling a new cyclical (maybe even secular for the die hards) bull, but I just don’t see it. Call it a rally instead. For me it’s a dangerous point to get in out of fear of missing the action.

Last 5 posts by Yaron Sadan

• Calling all themes - February 10th, 2012
• Portugal, and Yields, and Iran . . . - January 30th, 2012
• The Hunt for Yield - January 26th, 2012
• All eyes should be on Iran - January 23rd, 2012
• Quick note - January 19th, 2012

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