Valuation and fundamentals

SPX pushed back to the 10 week average of 18x forward earnings, which itself is decently higher than last week. Another level to watch in weeks ahead - clearing 18x may turn the level into support which would be very bullish and open the door to 19x-20x. Scoring this 3 due to increasing earnings on the 10 week average - from 2465 to 2473 in one week is a decent lift.

Citigroup Economic Surprise is still terrible - mild bounce from extreme low levels is right direction. -4.

3*2 = 6
-4
Combined total +2. Stock market is acting stronger than that right now.