In our regular update of the various indicators we track, one notable standout today was the spread between positive and negative analyst earnings revisions for S&P 1500 stocks. In this morning’s update, we calculated that over the last four weeks, analysts had raised EPS forecasts for 612 companies in the S&P 1500 and lowered EPS forecasts for 605. This works out to a net of +7. That may not sound like much, but it’s actually the first positive earnings revisions reading we’ve seen in close to two years!
In today’s Chart of the Day, we highlight prior periods where the revisions spread turned positive after extended periods of a negative spread including how the overall equity market performed going forward.
Continue reading today’s Chart of the Day by starting a 14-day no-obligation free trial to our paid research platform.