Yearning for Earnings

(1) Get ready, set, go. (2) The $120/$130 scenario. (3) Lowering S&P 500 target to 2150 this year and pushing 2300 to mid-2016. (4) Several factors weighing on earnings. (5) Not a zero-sum game. (6) Still waiting for usual earnings season upturn. (7) Industry analysts slashing 2015 and 2016 estimates. (8) Margin estimates falling. (9) Energy remains the biggest dead weight. (10) Durable goods are also heavy. (11) Consumer confidence is euphoric. (12) Focus on market-weight-rated S&P 500 Industrials.