Having destroyed any remnants of the "it's earnings that matter" meme, we thought the following chart would clarify just how bad the outlook for Q4 EPS is. As Factset notes, "the decline in the bottom-up EPS estimate recorded during the course of the first month (October) of the fourth quarter was higher than the 1-year, 5-year, and 10-year averages." That is not a 'good' thing..
h/t @Not_Jim_Cramer
Though one wonders what reality stocks will move on as "Earnings don't matter (anymore)"
Fundamentals or Central Bank liquidity!
and haven't done for a long time…
Charts: Citi, Factset, @Not_Jim_Cramer
via Zero Hedge http://ift.tt/1oi6c5G Tyler Durden