FROM THE SUBLIME TO THE RIDICULOUS 
This is what the weekend Wall Street Journal had to say regarding the market reaction to Friday’s payroll data (page A5).  “Stocks edged higher Friday, with disappointment over the jobs report offset by expectations that the news would keep the Federal Reserve from raising rates.”  So we are left with the impression that had the number come in at +85,000 and the market rallied, that we would have been notified that even as rate hike expectations intensified, there

This is why this is called the Houdini market — it goes up on any news, good or bad.  The good news is evident; the bad news is always rationalized.

……read the entire report HERE.

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……read the entire report HERE.