“Earnings Apocalypse not yet realized” (yes, we know)

The mainstream financial media advises that earnings are still okay

The earnings apocalypse has not yet materialized

From NFTRH 727

In support of this case [edit: a developing NFTRH market view for Q4 that is not expected by a majority], as Wall Street analysts busily adjust their earnings projections downward (I confirmed the downward projections by reading a recent report on the current earnings season from FactSet) while the CESI continues to lift. It’s opposite the unrealistic view of 2021.

No details, because that is part of developing and forward-looking analysis in weekly reports. But marvel at how wonderfully unrealistic analysts have become hyper-realistic in 2022.

“Earnings Apocalypse”? Don’t make me laugh. Just because bubbleheaded analysts were so far wrong does not an earnings Apocalypse make. The only Apocalypse was to bubblehead thinking as this bear market is thus far running on valuation compression.

Yardeni.com

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