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Another Strong Earnings Season. How Many More?

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Mid-cycle earnings recoveries have lasted two years, on average. The current cycle began in 3Q16. Stocks have rallied during early stages, but have struggled once the y/y growth rate has peaked. The NDR Earnings Model remains bullish, but history suggests risks will rise in 2018.

Ned Davis Research | Equities | U.S. Focus | Weekly

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