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The data confirmed one thing for the U.S. economy, if things didn't go well we have only one road to go through, with confirmed upside risks to prices, and more caution on growth, as the tax rebates did not provide the intended results as reported in the U.S. retail sales during the week, stagflation might be the most likely result for such a combination.

Nothing yet is confirmed in the economy, and that's why we see great contradic-tions in market movements, investors are using their risk aversion methodology for trading rather than sticking to a good old Dow Jones theory to catch a trend and start following it, which drove correlation coefficient amongst currencies in-sane.

Dear reader, we believe that this amount of uncertainty about the economies and markets will be going for while, unless something comes up and clearly declared the end of the financial turmoil and the closure of the downside cycle for the U.S. economy, and the fed started to seriously think about hiking rates again, then a trend might be created.

But if a recession or worse stagflation has been declared, with expectations for more troubles in the financial sector and a probable cut for interest rates, who knows it might be true, and again a trend will be created in the market.

So far, no one can really judge dear reader where markets are actually heading, we need to see some more confirmations, more clarifications and proofs, in order for us to find a new bottom or top in the market, and follow the resulted trend...

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