CFRA: ".. with the S&P 500 closing back above its 50-day moving average, many wonder if the 22 calendar-day, 5.5% pullback from March 28 through April 19 has run its course. If so, history suggests a 6% gain above the prior high before slipping into another decline of 5% or…
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Ryan Detrick, CMT
RyanDetrick
They tell us that earnings estimates tend to drop, but that hasn't happened in '24 so far.
S&P 500 earnings still expected to be up an impressive 10.8% in '24.
We continue to think that is a tad light, as a stronger economy in H2 should see even better numbers. pic.twitter.com/9UPkzGRjZC
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SentimenTrader
sentimentrader
A component in the TCTM Washout Model triggered a new alert after the S&P 500 closed below its lower Bollinger Band for five consecutive sessions and subsequently reversed higher. pic.twitter.com/OMdi3c8AEa