Since the time of buttonwood trees, Wall Street has had its
own version of the Ten Commandments — the cornerstone principles
of conventional economic wisdom. The first of these writ-in-stone
notions is the widespread belief that earnings drive the
stock market.
This
article was syndicated by Elliott Wave International and
was originally published under the headline Earnings Drive Stock Prices? See This Chart Before You Answer.
EWI is the world’s largest market forecasting firm. Its staff
of full-time analysts led by Chartered Market Technician
Robert Prechter provides 24-hour-a-day market analysis to
institutional and private investors around the world.
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