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The S&P 500 keeps grinding higher despite a fair amount of skepticism from investors, and the continuing slow deterioration in the economic backdrop, both domestic and global, which continues to feed the negative earnings revisions cycle that I have been forecasting for many months. 

The NAHB market index has now fallen for eight straight months and has now achieved its worst streak since the 2007 housing market collapse.  The data release was not only a downside surprise, but also ...

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