Contents
Market Timing Indicators Morgan Stanley Forecasts and Recommendations
3 Market Timing Indicators 28 Earnings Growth Forecasts
4 Market Timing Indicators and Technical Indicators 29 Index Target Scenarios & European Model Portfolio
5 Market Timing Indicators Background Information
Consensus Aggregates
Themes 30 Sectors - Consensus Valuations
6 Europe versus US 31 Sectors - Consensus Valuations
7 Growth versus Value 32 Sectors - Consensus Margin and Leverage Expectations
8 Large versus Small Caps 33 Sectors - Consensus Growth Expectations
9 Large versus Small Caps 34 Countries and Size Groups - Consensus Valuations
10 Sectors - Are Valuations High or Low versus Historical Range? 35 Countries and Size Groups - Consensus Valuations
11 Sectors - Sector Rotation Model 36 Countries and Size Groups - Consensus Margin and Leverage Expectations
37 Countries and Size Groups - Consensus Growth Expectations
Trailing Valuation
12 European Trailing Valuation Performance Data
13 European Trailing Valuation 38 MSCI Country and Regional Index Performance Data
14 Long-Term Valuation Data 39 MSCI Sector Performance Data
15 UK versus Europe ex UK Trailing Valuation 40 MSCI Size Group and Value versus Growth Index Performance Data
16 MSCI Country and Regional Index Valuation Data
17 MSCI Sector Valuation Data
18 MSCI Size Group and Value versus Growth Index Valuation Data Corporate Leverage, Margins and Returns Data
41 Leverage Data
42 DuPont Analysis
Sentiment and Positioning 43 Capex and Margins Data
19 Sentiment and Positioning 44 Valuation and Cash Returns Data
20 Volatility and Options Data
21 Mutual Fund Flows
22 Positioning Data Macro-Economic Data
23 CFTC Futures Positioning 45 Fixed Income and Credit Markets
24 CFTC Futures Positioning 46 Economic Indicators
47 Economic Indicators
Earnings Data
25 Earnings Data
26 Earnings Revisions
27 Earnings Monitor