THE BIG LIE
Per-share profits have exceeded analysts’ estimates at about 69 percent of the 117 companies in the S&P 500 that released results so far, according to data compiled by Bloomberg. Earnings have increased less than 0.1 percent for the group on a 1.8 percent gain in sales.
Forecasts for third-quarter profits have grown more optimistic as the earnings season progresses. Analysts now project a 0.3 percent drop in S&P 500 earnings for the period, according to a Bloomberg survey, compared with a decrease of 2 percent predicted on Sept. 28.
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THE TRUTH
Q1 2009, only 35% of stocks reported in line!
the sell off was put off, until all the companies had reported. (feb)
This time, they aren’t waiting! The beginning is already beginning.
Third-quarter sales at S&P 500 (SPX: news, chart, profile) companies haven’t impressed so far. Of the 98 companies that have reported earnings, only 42% have beat the consensus sales forecast, according to FactSet’s John Butters.
if you don’t know who John Butters is, he’s very informative!
imo. this new info, raises the odds, on QQQ going below it’s 200 day, and possibly rsi 25.
please comment, so i know you were here!
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