macro's xjo fair value update: bullish, page-5

" I have simply made changes to the consensus earnings indicator as it was required to improve accuracy. The changes were only on the margin (except for the removal of FGL)."

If you could align the full period to one exact method/approach i think it would be more comparable. Further, if you had a larger time scale ie multiple crashes/booms it could show how powerful/inaccurate this approach is in pre-empting particular moves.

-If you gave the trend multiple scenarios ie increasing/decreasing/increasing at a decreasing rate/increasing at an increasing rate and so on, as well as where the market/indicator itself sits in comparison to the Trend line, i think it would be a very powerful tool. Not the only tool of course. but it could be a good one. Good stuff macro's.

Cheers, James.