When a new bull market starts or an intermediate bull move (secondary reaction) in a bear market occurs, the market will have discounted all the "bad news."
Despite worsening economic figures, geopolitical events, and general societal malaise, the markets will go up. This will often confuse investors. Why is the market going up? Because there is more buying than selling we respond.
Given the market's sell off on Friday's employment numbers, we do not yet believe that the market is yet fully discounting all of the bad news.
Had the market been able to rally given the job loses, we would be much more sanguine.
Right now we are still in a primary bear market until proven otherwise.
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