Per the nine S&P Select groups, this is how the market did last week.
S&P Select Groups
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Materials
Technology
Utilities
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Year over Year consumer spending reflects change reflects PE, and eventually the markets direction in the longer term. Consumer spending is declining currently. Down for a few months in 2016, then at bottom , say fall 2016, it will be time to buy the blue chips and hold on for a rally attempt. I suspect Jason will fly the buy signal. The elections will add to events. But be alert. I will commence buying about then. Get a plan and see if things will turn sooner than we think.