Why markets are going up?

I was watching CNBC nearly every other day, trying to catch the reason. Then I came across this table which is very telling. The table indicates the average earning percentage for companies. Comparing at 2 time frame. Results is, they are continuing to put up higher forecast.

What it means is this: Back in April 1st, Q2 and Q3 forecast were 54% and 19.5%. However as the reopening economy are happening, companies came forward to update their forecast higher. You can see the latest update this week for Q2 and Q3 forecast were 62% and 23.7%. That's like telling the market after one month, my earning will grow even more about 8% in Q2 and 4.2% in Q3.

That's a big change. US economy is thriving and is on the hawkish mode. I could see that most of analyst are two side of the camp. But one thing they all summarise is... you have to stay invested.

Finding a valuable company now is not easy. Growth companies are still at very high PE. My take is continue to find opportunities to trade. I see volatility and trending side ways. Only reason is US and China is ahead on Covid, but not the rest of the world.

What's your take?

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