Monday gave back most of what Friday had gained despite the reasonably good Personal Income and Spending figures. We even saw a few merger deals to kick off the week. It really wasn’t about what was happening on Monday. The market decline was likely seeing the shorts that covered on a “good news” Friday, putting positions back on ahead of a plethora of economic data. It’s hard to anticipate good news out of the upcoming data. Don’t get too excited about a positive CaseShiller number today. It is a three month moving average of Home Prices. With the stimulus behind us, the higher priced homes are making up a larger percent of the total homes sold, so it is not a real indication of rising home prices. We do get three August numbers, the Chicago PMI, the NAPM for Milwaukee, and Consumer Confidence. These data may carry some weight. There should be some caution ahead of the FOMC minutes. Remember, the market reacted negatively to the WSJ article that said more Fed members than just Hoenig were questioning the Fed’s QE policies. These minutes may expose more dissent, and that could be negative for the market. The bad news keeps rolling in all week with the ADP and ISM numbers tomorrow. Weekly claims and the August Employment report will keep the bulls and bears guessing right up until Friday. It’s hard to get excited about a nice technical bounce. On a positive note, yesterday’s decline only managed to generate the lowest volume day of the year for the bears.