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Earnings: last man standing....

The Market Ear Picture

...but next shoe to drop

While waiting for FED, lets focus on something really boring, but really fundamental, earnings. There is increasing focus on forward estimates that seem too high and that they will be the next shoe to drop in the selloff. Pretty consensus that this is the case, but still, time for a thread....and remember, when the real cutting starts we are not far away from a stock market bottom...

Earnings are stretched in the long-term context