It’s become pretty fashionable to explain away every piece of good news.
You’ve heard it all: Government numbers are manipulated! The numbers still aren’t as good as they should be in a a real “recovery.” The third derivative is slowing again! As an example, here’s Keith McCullough is pointing out some negative angle to today’s good’ consumer confidence numbers. The Chicago PMI was also strong today, as were some regional ISM surveys.
Fine, it’s good to be sceptical, but the market has generally liked good economic data, and today’s market comeback (not a total one, but things are far better than the market bloodbath earlier) is evidence of that.
An obsession with dismissing good news will cost you money.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.