I also watch the CFNAI numbers that are puplished on the 23rd of each month, but they are not negative yet, but they also did not get negative until after the market topped in 2000 and 2007.
Deflation is the second worse economic condition for market, only triple digit inflation is worse, but if we ever get that one in the USA, then will not be much fun to live here anymore.
The argentine peso went from par with the us dollar to 1.4 million in just 5 years. I was there in 1985, at the end of that devaluation. Was super cheap at the time, could2 of the best steaks I ever ate with a salad and fries, along with a decent bottle of wine for my gf in a decent restaurant and the bill was only $6. BTW, she was half my age, seems to be a thing for me! I was 40 and she was 22, we met on a trail in a remote area of Chile. I was so in love with her, sad she was french and hated the USA!