The is now within normal range. Both the value fell and the market increased this week. Analyst earnings expectation continue to fall, but investors are sensing a bottom. The timing looks more positive than negative. The market continues to be significantly undervalued but there are no real signs of a turnaround yet.
Analyst continue to revise their future earnings projections downward.
It still show the market as under valued, but not to the degree that it did under the old model. Timing signals continue mixed. Sentiment is strongly negative, but breadth seems to be turning. However, in this case we think the market is correctly anticipating more downward earnings revisions. The timing indicators are mixed.