Street upped us economy, JPM is just one of them. they upped chinese eco as well.
Economy's improvement will drive ESP growth improvement.
In addtion to PEs, we also need to look at PEgy when try to gouge the valuation of the market.
More economic policy in the pipeline:
1. tax cut
2. inflation expectation improvement
3. Fed cut
4. the Termination of QT
5. More positive new on tariff deescalation
6. eventually, good new from US and china tariff front.
At this point, because all mentioned above, I do not believe, there will be 20% or more correction in short term?
from technical perspective:
這輪轎子是散戶在抬，不少的機構還低配呢。
Of course, there will be very bad news waiting ahead, but eventully, good news will prevail
Market is volatitle, and will continue to be so. Will not surprise to see big down day ahead. But if we looks through the short term volatitliy , the overall picure is brighter, much brighter.
not investment advice。
