Didn't I mention yesterday something about this market's ability to rally on bad news these days?
That jobs report was clearly bad news. To be clear, I don't care that it was worse than some clueless economists polled by some news organization or not. The point is that we lost 80,000 jobs as measured by our antiquated governmental measuring systems, and the magnitude of that along with all the data points we get elsewhere, simply confirms the hard economic times we're going through.
You really needed a jobs report for that? No, and neither did the market and thus...
We rally on bad news.
And that's bullish.