9/30/11 Morning Prep / Analysis: Futures hold losses after econ news

Fundamentals: U.S. consumer spending adjusted for inflation was flat in August as income fell for the first time in nearly two years amid a weak labor market, according to a government report on Friday.
- No major economic announcements today

Technicals: 8:44am- All charts showing short bias. I am looking at this little uptrend on the 5 min being a possible bearish flag:

Course of action: Look for BOT Short out of the bearish flag or short the break of lows. Let all long signals pass by (until you have a major condition change, which will then allow you to go long). But until then, only short, let the longs go by, look for BOT Shorts.