11:02 am EDT:  Consumer Sentiment came in a bit above expectations, and the ES was only able to exceed the zone we were willing to short (from our morning report) by a tick (high 1048.25).  As always, we give price a point above or below a given level and want to see a quick rejection.  The rejection was quick only after the minor 10:00 am report 5 minutes later–so not a perfect setup.  Though the short worked out modestly well if it were taken, the ES is building value around highs again, and could be setting up for a surge higher.  Above highs, and we may still short the 1052.00 to 1054.25 area, but need to see it quickly rejected.  We will likely not fade long weakness today.  Treasury Budget is at 2:00 pm and is not expected to move the markets.  If it does, though, we won’t get in the way.  The leaders are still behaving strangely, even more so than earlier this morning.  Trade cautiously.