What Changes a Market Bull Into a Bear?

The video discusses the SMP target adjustment and market trends influenced by QE3 and deflation. It highlights the market's churning pattern and the role of earnings in 2017, emphasizing the need for global growth and a cautious Fed approach. The analysis covers sector performance, focusing on value vs. growth and the impact of yield curves. The shadow Fed funds rate is explored, noting its implications for rate hikes and sector earnings, particularly in financials and energy.

In what ways do financials have pent-up earnings power according to the discussion?

What are the expected earnings trends in the energy sector for the upcoming year?