Lets look at the long term chart and top down fundamentals:
- Strong strong trend past 3 years
- Long term chart says correction needed
- Likely correction longer term out
- 60% of top line from US --> how is consumption in staples?
- How are commodities prices? Is there pressure? If pressure what spill over can we expect?
- Inflation indicates probably no price pressure, Fed confirms with policy (however there are divergences from individual commos markets to equities, must look more carefully)
- How is growth expansion abroad? Can GIS diversify revenue further?