Estimate Revisions Weak Once Again – the Pattern Continues

(Harvest) Open or double-click on the above spreadsheet. Now here is this post from January 8th, 2017 this year. This pattern of negative revisions continues to persist in the first quarter of the past few years, despite the fact that this year, the SP 500 was up 1.5% – 2% in January ’17, led by Basic Materials and Technology. Last year in Q1 ’16, commodity prices were plummeting, and high-yield spreads were widening, and so it made sense that positive revisions were less than negative revisions.

To read this article: