Listen to Hochberg explain the problems with using lagging economic indicators like earnings

EWI Chief Market Analyst Steven Hochberg talks with MarketWrap radio on May 10, 2012, about recent market action and where we are in the long-term trend, among many other topics.

Listen to Hochberg explain why using lagging economic indicators like earnings as a forecasting tool is like driving down the highway while looking in the rear-view mirror.

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When the markets were still going up at the beginning of 2012, were you warned that they would soon go down?

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This article was syndicated by Elliott Wave International and was originally published under the headline Listen: EWI's Chief Analyst Hochberg Explains Recent Action in Stocks, U.S. Dollar and More. 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.