Looking Forward

(1) Industry analysts suffer from chronic optimism. (2) So why do they lower their estimates just before earnings seasons? (3) The truth is out there in forward earnings. (4) A very good leading indicator of earnings. (5) Market math adds up to higher stock prices. (6) The trend is your friend to the end, or until it ends. (7) Four previous breakouts to new record highs after one-year-plus consolidations. (8) The magic trend growth rate is 7%. (9) Raising our 2017 S&P 500 EPS estimate from $126 to $129, and posting $137 for 2018.