Until recently healthcare had been the only sector offering any optimism from an earnings perspective but even that has collapsed now. The three-month earnings revision ratio (ERR) fell for the fifth month in a row to 0.53 from 0.55 - its lowest level in nine months, indicating twice as many cuts as increases. As BofAML notes, this is well below the long-term average of 0.84, and given S&P 500 sales revisions have collapsed to April 2009 lows, they forecast more cuts are likely to come... and a muted January effect looms.

Gisela Mota Ocampo was assassinated this morning, a day after being sworn in as mayor for Temixco, Morelos. Fifty-eight other new mayors assumed office without incident in Oaxaca this week. Mexico News Daily reports: A federal deputy of the Democratic Revolution Party (PRD) from 2012-2015, Mota was murdered at her home in Pueblo Viejo. She had won election for mayor last June.

In a new strategy document, Russia has for the first time appraised the United States as a threat to its national security. Times of India reports: The document, “About the Strategy of National Security of Russian Federation”, was signed by President Vladimir Putin on New Year’s Eve. It replaces a 2009 version, endorsed by Dmitry Medvedev, president then, and the current prime minister, which mentioned neither the United States not Nato. It says Russia has managed to heighten its role in solving global problems and international conflicts.

Happy New Year Another year is upon us and before you know it, it will be gone, moment after moment. The following is a quote from American scholar, author, editor, pastor and teacher,William Arthur Ward.   “Another fresh new year is here . . . Another year to live! To banish worry, doubt, and fear, To love and laugh and give! This bright new year is given me To live each day with zest . . . To daily grow and try to be My highest and my best! I have the opportunity Once more to right some wrongs, To pray for peace, to plant a tree, And sing more joyful songs!” William Arthur Ward quotes

Via NorthmanTrader.com,

If there was one key trading lesson to draw from 2015 it is this: Ignore the noise and focus on the technicals. Hence in today’s article I’m outlining what I’m seeing from a technical perspective across multiple time frames and asset classes. Note I’m not trying to convince you of any particular view here, but my aim is to share, what I consider to be, fascinating data sets that hopefully offer some insights worth considering.