EPS Growth This Cycle

EPS Growth This Cycle This chart shows the exceptional earnings growth in the technology sector over this business cycle. Picture source: KKR Global Macro

S&P 500 Cycle Composite for 2019

S&P 500 Cycle Composite for 2019 This great chart shows the S&P 500 cycle composite for 2019 vs. the actual S&P 500 composite (places equal weight on: one-year seasonal cycle, four-year presidential cycle, and 10-year decennial cycle). Keep in mind that it is not a forecast. Picture source: Ned Davis Research

S&P 500 and Past Easing Cycles

S&P 500 and Past Easing Cycles The S&P 500 did rather well after easing cycles began, especially during Fed insurance cuts. See also “Market Reaction to Fed Insurance Cuts vs. Fed Recession Cuts.” Picture source: Fidelity Investments

Late-cycle Worries

Late-cycle Worries Consumers are currently more optimistic today than about the future. That’s worrying because consumer spending contributes 70% of total U.S. production. Picture source: Deutsche Bank