SP500 EPS Estimate

I’m trying to understand if this popular Port123 hedge code is referencing monthly or daily data. I saw today that EPS estimates for Q3 and Q4 '22 are starting to come down and wondering how fast this hedge indicator might react. I’ve attached the quarterly EPS data from Ned Davis…

ema(5,0,#spepscy) < ema(20,0,#spepscy) // Place hedge when SP estimates trend lower

EMA5 is about 223
EMA20 is about 218

So… the hedge is not currently active


#SPEPSCNY is a weekly data series. You can tell by looking it up in the Factor & Function Reference found here: https://www.portfolio123.com/doc/doc_factors.jsp.

Thank you so much both for the fish and the fishing lesson Yuval!

EVAL(ema(5,0,#spepscny) < ema(20,0,#spepscny),ticker(“SH”), 0)
is a useless hedge code.

This is not surprising because the analysts are clueless. Just look at the 12-month price targets from Dec-2021 for various tech stocks. Some of them are now 80% lower than what the estimates were in December.