Economy Slowing

The Philly Fed and the existing home sales came in horrible.  I don't focus much on the jobs numbers because they aren't leading indicators.  Looks like QE2 did nothing but delay the inevitable.  This economy needs a recession to clear out the junk in the system.  The longer we delay it, the more feeble the future recoveries will be. 

My feeling on the market short term is neutral and there is nothing much to add.  Sentiment seems about neutral as well.  In these situations, I prefer to do nothing.  Commodities look like they have further downside, just from a technical viewpoint and their relative weakness to equities.