Generally investors continue to be more optimistic than analysts. Investor sentiment continues to improve, but other timing indicators are mixed. Earning projection did improve slightly this week, but they are still at record lows relative to past earnings. All the timing indicators are positive. The value model continues to show that the market is over valued.
Investors are more optimistic than analyst earnings expectations.
Breadth has shifted to the negative side, but sentiment and seasonality remain positive. Clearly investors are anticipating stronger earnings growth than is being report by analysts. Timing signals are mixed but more positive than negative. Both future and current earnings numbers continue soft. The market is now over valued.