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SPXT - Tactical Update: Fundamental Shifts May Send The Stock Market Even Lower
ProShares S&P 500 Ex-Technology
Consensus earnings estimates have now turned lower, and more worrying is that the number of companies now seeing downward earnings revisions is on the rise.
There is now an increasing amount of uncertainty around earnings estimates looking forward.
The PE Ratio (NTM) fell below 20.5 for the first time since the spring of 2020 and has been a significant level of support.