Revenues that beat estimates
In that vein, the numbers in the last two quarters have not been that great. Company after company seemed to miss on the revenue expectations. That’s not a healthy state of things.
Sure, you can manage earnings, but if you are missing sales estimates, that says much about the real operations of a company. While there can be some manipulation with respect to revenues, a sale is just a sale. There are no gimmicks. What I am looking for then this year is more and more companies meeting or beating estimates on the top line. To the extent we see an acceleration of sales, we are likely to see an reacceleration of the bull market.