Yearning for Next Year’s Earnings

(1) Sentiment is so bearish that it’s bullish. (2) Financial headlines mostly bearish. (3) Bull/Bear Ratio much more depressed than P/E. (4) Taking some comfort: Elevated consumer confidence propping up P/E. (5) Same old, same old: Bad news is bullish again for now. (6) Warning for revenues: Global M-PMIs weaken some more. (7) US economic surprise index turning more negative. (8) Counting on another season of upside earnings surprises. (9) S&P 500 earnings have more energy without Energy. (10) Next year is always better than this year, barring a recession, of course.