First Oil, Now Earnings Revisions Scream Recession

Two short weeks ago we warned of the looming 'profit recession' in the US on the heels of significant downward revisions from the Energy sector due to sustained low prices. While we assuredly will not do the 'told-you-so-dance' quite yet, perhaps all the professional hockey-stick extrapolators and 'smart money' should look away from the following three charts...

 

Downward Earnings Revisions are surging...

 

And so Forward-Earnings expectations are plunging. We are sure "it's different this time"... or just "transitory"...

 

 

And we suspect - if T. Boone Pickens timing is right - this will get much worse before it gets better...

 

But apart from that... BTFATH.

 

Charts: Bloomberg and @Not_Jim_Cramer