In October, I first shared my very bullish views for 2011, projecting the S&P 500 would attain 1500 by the end of the year, up from 1146 at the time. While the call got off to a fantastic start and was even ahead of trend substantially at the end of April, the recent pullback in the market with the subsequent rally leaves my forecast appearing to be roughly on track.
Halfway through the year, it appears that I have underestimated the earnings potential for the S&P 500. The Standard & Poor's website, which requires registration to access the data, indicates that 2012 earnings (as of 6/21) are expected to now be almost $112, an increase of 14% from the nearly $98 projected this year.
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