{"id":7659,"date":"2018-04-06T22:31:09","date_gmt":"2018-04-06T22:31:09","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=7659"},"modified":"2018-04-06T22:31:09","modified_gmt":"2018-04-06T22:31:09","slug":"will-q1-18-earnings-put-a-floor-under-stocks","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=7659","title":{"rendered":"Will Q1 ’18 Earnings Put a Floor Under Stocks ?"},"content":{"rendered":"
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Normally the weekly earnings missive doesn’t start with a chart, but with the SP 500 sitting on its 200-day moving average, and many big banks and financials slated to start the Q1 ’18 earnings releases for the SP 500, will earnings put a floor under the stock market this coming week ?<\/p>\n

The February 9th, 2018 low for the SP 500 is 2,532 – that’s still a good flush lower for the key benchmark.<\/p>\n

That being said, isn’t it ironic and so like the market to see its biggest correction in the last 24 months, alongside or coincident with the largest upward revisions over a 90 day period in SP 500 earnings estimates, maybe ever ?<\/p>\n

From the last Friday in December ’17 to the last Friday in March, 2018, the SP 500 “forward 4-quarter estimate” rose from $143.34 to $158.14, or from an expected y\/y growth rate from 11.5% to 20.74%.<\/p>\n

Here were two headlines today from both Factset and Thomson:<\/p>\n