“I’d have thot they’d tank w/ goodnews=badnews thinking...”
LOL, indeed.
Come to think of it (CTTOI?) this is yet another example of confusing price trend signals. We should either have goodnews=goodnews like during a recovery when stocks are bid up with folks going back to work, or we should have goodnews=badnews like with an aging expansion where stocks bid up on the Fed lowering rates on bad econ reports.
Maybe what we got here is an aging recovery that still hasn’t gotten any where so signs keep getting scrambled...