Grinding Higher

(1) Complacency is worrying the Fed according to Hilsenrath. (2) Anatomy of corrections and bear markets. (3) Is the internal correction over already? (4) Forward earnings continue to grind higher. (5) Analysts’ upbeat earnings feeding investors’ complacency. (6) NIPA profits dropped during Q1, but should grind higher too. (7) Cash flow moving sideways in record territory. (8) Focus on market-weight-rated S&P 500 Auto industry.