Strategy Central

[shortterm]

I guess consumer confidence/sentiment is going to turn even more negative

Markets down, oil up, interest rates up. Expectation index last week came weaker than expected already. I wonder how Bush's approval rating will fair.

TICKS are nicely negative and TRINS above 1.

There must be bounce somewhere I guess, but I would bet it meaning much. The real downdraft starts when the old buy the bounces start falling. Today was a start of it: many expected a post fed liquidity driven bounce: look the rates went up but markets are taking it well... Not this time.