E-Wave for the S&P 500 Index

[rimshot]

going parabolic? really?

why is a steady grinding price advance with many Overnight equity index
futures price action strong since December a parabolic, and why is
the current state lasting weeks in which the /ES futures are trading
at a PREMIUM to the $SPX cash a parabolic characteristic?

it seems like a simple and steady price uptrend to me ... is simplicity a difficult experience to embrace and believe?

Someone believes in
the future of earnings growth and economic growth for a period of time
lasting into at least 2020, and why is that not easily recognized and
believed?

https://c.stockcharts.com/c-sc/sc?s=%24SPSUPX&p=D&yr=0&mn=10&dy=0&i=p36403893029&a=691610419&r=1573923853368

https://c.stockcharts.com/c-sc/sc?s=%24SUPHLP&p=D&yr=2&mn=7&dy=0&i=p74960383002&a=382342019&r=1579327367695

https://c.stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=1&mn=0&dy=0&i=p65567309000&a=340963767&r=1579366381395

shown below are my personal notes while attending a Webinar by the professional CFRA research organization,
and
notes are taken real-time and emailed to myself real time

Date: Wed, Dec 11, 2019 at 11:12 AM

Subject: Re: Sam Stovall in CFRA webinar today

a lot of statistics for the different regions of the world,
that Sam showed on one slide, and in his discussion ...
he stated
there are NO signs of recession coming in any of these regions during
2020 based on both the IMF forecast and his forecast ...

looking at the stats he shows better earnings growth in Emerging Markets
for 2020 than in the US stock market using the S&P 500 stocks ...
he also showed
a separate slide presenting the Emerging Markets compared to the S&P 500 and
that the Emerging are under performing at the lower BB location , which to him means
it is nearly 100% that the ratio will improve to the upside and Emerging will do better
in 2020

On Wed, Dec 11, 2019 at 9:33 AM

Oil price increase on avg in 2020 by $2.80

On Wed, Dec 11, 2019 at 9:31

Sam says

no FED rate cuts or rate rises in
2020

On Wed, Dec 11, 2019 at 9:30 AM

Sam has ALL economic AND fundamental forecasts into 2020 end
for both Global and the US
at improved or flat vs. the 2019 stats

On Wed, Dec 11, 2019 at 9:29 AM

Sam says

mid December price low to the January price high is a consistent event in all years when
price is weak in the 1st half of December

On Wed, Dec 11, 2019 at 9:27 AM

Sam says 45% of the total revenue
for the 500 companies in the S&P come from
oversees,
so
the tariff situation was responsible
during 2019 for NOT meeting Sam's expectations
for company earnings growth in 2019

On Wed, Dec 11, 2019 at 9:14 AM

Sam Stovall says

we are now underestimating company earnings growth and the US GDP growth,
and those items
will positively surprise in 2020 vs. current expectations ...

so stock prices are telling us the expected 2020 outcome at this time in the 4th Qtr 2019
since prices lead the fundamentals before the fundy's improve

stock up trends do not die of old age, they die of fright - fear of recession is the cause

4th year of Presidential cycle is 84% of the time positive ... normally up 6.4% in 4th year