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DC Lite #362
Citi's Earnings Revisions Index turned positive for the first time in 6 months
Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights.
1. Growth vs. inflation. "Recently US growth surprises have been more or less flat, while inflation surprises have been to the downside."
2. Hard vs. Soft data. "The gap between US hard and soft growth data is among the largest since the 1970s."
3. Recession forecasts. Goldman lowered its recession odds, as did Yardeni, JPMorgan (no longer base case), and Barclays (removed from forecast).
4. DeGraaf + ZBT. "Yesterday saw a DeGraaf Breadth Thrust (55%+ of S&P 500 stocks hit a 20 day high). 3 weeks ago we got a Zweig Breadth Thrust. Here's what happens when we get both Thrusts within a month of each other."
5. Earnings revisions. Citi's Earnings Revisions Index turned positive for the first time in 6 months.
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