So looking at the economic data it was a mixed bag.
GDP was revised up not down like I thought but the devil is in the details. Inventory caused the increase up which means much less. The core GDP number which surrounds consumption actually moved down. As a result, not a pretty picture.
Chicago PMI seemed to be smoking. Inventory continues to be restocked. Would expect this another month or two.
Michigan Consumer Sentiment came down but wasn't revised drastically lower.
Finally exiting home sales were like I thought horrible hitting a seven month low causing months of supply of inventory to increase back up to 7.8 months of supply.
Market initially sold off on existing home sales but than got shrugged off.
Actually this all has a theme, once again the market doesn't care about the average American. In fact the market needs the average American to get worse off so the government can keep pumping and even increasing new money that gets recycled back into Wall St.
Its all so surreal.