We are still in the longest bull market on record, yet the entire trading community seems convinced the bull market is about to roll over.
If analyst estimates are trustworthy, we are on the verge of an earnings recession, that is, two consecutive quarters where earnings growth goes negative compared from the previous year.
First-quarter earnings are expected to decline by 0.7 percent, according to Refinitiv, and second-quarter earnings are expected to be up a measly 3.4 percent and seem vulnerable to further downward revisions.
