In June, I wrote an article called 'Navistar: Perfect Quarter, But Will It Last?'. Back then, the company easily beat earnings expectations and raised its guidance. Nonetheless, I stayed cautious as macro-economic indicators were pointing at headwinds. Since the last earnings release, the stock is down roughly $10 from $34. This does include the current 8% stock price boost after the just released earnings. Once again, Navistar (NAV) reported blowout earnings and confirmed its guidance. Unfortunately, this happens one day after we got additional macro indicators that point to a probably unavoidable decline