FEBRUARY CONSUMER CONFIDENCE SLIPS TO 46.0 FROM 56.5, PRESENT SITUATION INDEX FALLS TO 27YR LOW

The Conference Board Consumer Confidence Index dropped almost 11 points to 46.0 for the month of February from 56.5 in January. The February decline reflects the first monthly decline in three months. The February Present Situation Index fell to 19.4 from 25.3 in January. The Present Situation Index fell plunged to 63.8 from 77.3 in January.

The graph to the left shows the initial drop in futures on the e-mini S & P.  I was able to sell short and snag 6 points (60% return) on this drop.  The futures market then dropped furtherwithin 33 minutes of the news release.  Any news is good news for Market Mover Traders!!

Conference Board Consumer Research Center Director Lynn Franco says:

“ Concerns about current business conditions and the job market pushed the Present Situation Index down to its lowest level in 27 years. Consumers’ short-term outlook also took a turn for the worse, with fewer consumers anticipating an improvement in business conditions and the job market over the next six months. Consumers also remain extremely pessimistic about their income prospects. This combination of earnings and job anxieties is likely to continue to curb spending.”

6.2% described conditions as ‘good’ in February from 8.5% prior
46.3% described conditions as ‘bad’ in February from 44.7% prior
47.7% described jobs as ‘hard to get’ from 46.5% prior
16.7% expect conditions to improve over next 6months from 20.7% prior
15.3% expect conditions to worsen over the next 6months from 12.7% prior
24.6% see fewer jobs available from 18.9% prior

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