S&P Has Been Rising With Negative Earnings Pre-announcements Since QE2 (Two Years Straight)

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Look at this amazing FactSet chart via Business Insider today. As you can see, usually the market goes down when there are negative earnings pre-announcements (see 2007 and 2008). But ever since QE2 was announced by the Fed in August 2010 (and then Operation Twist and QE3), it looks like the S&P 500 and negative earnings pre-announcements have been rising in tandem for two years straight (except for Q1 2012). Wow.

Source: Business Insider, FactSet

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