Coach, "consumer spending" includes pretty much everything, including medical insurance and expenses, I believe. It is not the same thing as true discretionary spending; a bunch of it is coerced.
And therefore inefficient.
That's no way to run an economy. Whereas the government used to try to increase consumer spending by things like cutting taxes and leaving the spending to the discretion of the consumer, they have switched gears into a new realm, where they FORCE the increase, by mandating expenditures.
In other words, it's not a good thing, as you suggest, but a bad thing, because it is inefficient. In the case of medical insurance and expenses, horribly inefficient. It is (and has been) argued that no net wealth is created by that system.
Regarding Apple, it is true that Apple = iphone, and that iphone = China, but I wouldn't use a business whose Chinese exposure relies upon Chinese demand for a single consumer product as the bellweather of the Chinese situation. There are other businesses with much more broad-based exposure to different parts of the Chinese economy that make much better bellweathers. Better yet, use an index of those with varied Chinese exposure. Better yet, know and talk to someone in the Chinese development system.
What I'm saying is that some things going on in the market may indeed make rational sense, only you don't have enough information and insight to understand that fact, especially where individual businesses are concerned. You would have us believe that you are an expert on the business operations of literally dozens of companies across widely varying sectors, including their international operations, which is of course impossible. The only sector I don't remember you having commented on is financials.
Regardless, you should be doing well on your shorts, and you should continue to do well. You seem to be a momentum guy, this should be your time.
BTW not trying to be chippy, just being forthright. Have a good weekend!