Indicators Show Market Remains in Malaise
There is unfavorable risk-reward as the stock market malaise
continues. The Wall Street consensus for 2015 was $130 per share
for the S&P. However, it only came in at $100 per share. A similarly
lofty forecast remains in place for 2016. Yet the first quarter came in
at only $20.7 per share, which is a 33% shortfall for the first quarter.
With diminished earnings, the market multiple stretches even further
into overvalued territory. This issue of LMTR explores the short-term
technical indicators that are reinforcing our bearish stance.
continues. The Wall Street consensus for 2015 was $130 per share
for the S&P. However, it only came in at $100 per share. A similarly
lofty forecast remains in place for 2016. Yet the first quarter came in
at only $20.7 per share, which is a 33% shortfall for the first quarter.
With diminished earnings, the market multiple stretches even further
into overvalued territory. This issue of LMTR explores the short-term
technical indicators that are reinforcing our bearish stance.
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