The first signs of the news cycle shifting to a bearish tone are evident this morning. Should we call them bearish "green shoots?" Or "brown shoots?" 

Retail sales came in worse than expected this morning. And we’re seeing the market react badly to bad news. That’s as opposed to reacting positively, or putting a positive spin, on bad news like we’ve seen repeatedly over the past two months. 

Bloomberg reports that "Fewer jobs, falling home values and the biggest loss of household wealth on record may limit consumers’ ability to spend for years…"