Does consumer confidence number mean much?

I don't think this means much, the press has been portraying the economy as dismal for years now, so there was increased spending the day after Thanksgiving and now the consumer confidence numbers are below expectations... A couple of years back a large part of the public thought the US was in a depression!!

 

The market is going to crash!!!
:eek:

 

Guess not, numbers look bad and the market is rebounding.

 

consumer con # wasnt good, dow now at intraday highs, go figure.

 

Still think the numbers don't bode well for the market...

 

consumer confidence is a lagging indicator following markets. Add that to the extreme negative sentiment list.
What does that imply for the future?

 

recession and dow under 12k 1st qu of 2008.

 

Lagging or not, it is a negative weight on the market today. For the future quarter, it might mean the market will find a bottom but it is not my timeframe.

 

Initially maybe, but sentiment changed intrabar at 10:30. The signal that I picked up intrabar there allowed me to pick up 6 ES pts on the long side. Sure the consumer confidence # wasnt good, but Im trading based on what I see happening in realtime. Otherwise I would have kept shorting and shorting and getting my balls squeezed. Whats the point of that?

 

Good trade.