American Consumer Less Than Toxic?

That's what I am hearing from the consensus network of hedge fund data point chasers this morning. There are two data points that actually pseudo support that view:

1. Weekly ABC/Washington Post Consumer Confidence came in at -47 this wk vs. -50 last
2. MBA Mortgage applications popped for a +10.5% wk/wk move

The problem, of course, is that these numbers are off of abysmal all time low bases, and these numbers represent one week of data points - this hardly constitutes a "Trend".

That said, my models are data dependent, and I respect that these facts are less than toxic, for once.