Current forward earnings are showing market is expensive, but guidance is so low that market is bound to rebound. However, if PMI"s show global growth is slowing faster then first thought then we could see a move lower then higher, but if global growth is slowing as expected then EPS becomes focal point as Q1 earnings are supposed to be negative.
Market is looking to sell into Trump auguration, which then should pullback to 2160-2150 with all of the headache regarding French/german election and Article 50!
This is based on some concerns with italian referndum and fomc being dovish about the economy rather ther being bullish! Tempory pull bcks will invite more buyers, still see alot of buyers coming in around 2150! Market should take off on or after fomc
