Signs of the Bottom Series -- The Critical Point

Retail Sales number today told the story that we already know... a drop in consumer spending which have already contributed to the reduction in aggregate demand, potentially driving real GDP lower into recession. Certainly the GDP numbers ahead are going to be nasty and without doubt point to a recession.

The Dow reached the critical decision point today.

Like I mentioned a few days ago, a support or a bottom at this level depends on the quality of this pullback and I must say that the pullback is as hard as that one day surge (bull trap?). If the Dow holds and at least gain a little tomorrow, then there is still hope of holding a support. Otherwise, its back to the good old bear story.