Consumers pulled back 0.9%, even more than expected in May. This follows a 0.1% loss in April and could factor into the Fed’s comments on the economy which will be released tomorrow.

Futures, already lower on a rebound in oil prices, fell even more.

continued for members…

Stocks continue to consolidate around the .886 Fib.

The DXY is little changed against the euro or the yen this morning.

But, algos are right to be concerned about oil and gas remaining in breakout mode.

continuing…