For regular readers of our blog and viewers of the Monday night webinars, you would be very familiar with the earnings table below.
The S&P500 index is trading at an assumed $170 of earnings per share for FY21 and $180 of EPS for FY22. We feel these targets are too optimistic and the range could be more like $125 to $150, with a slower rate of recovery into 2022.
The close on Thursday and Friday now has the major US indices trading below our short-term momentum indicators.
Our target for the S&P500 is 2500 support and 3300 resistance.