This may finally be the time when bad news start to be considered as
such and the market reacts badly. After months and months when bailouts,
earthquakes, wars, skyrocketing oil prices were not considered by Mr.
Market now things may be changing.

Yesterday with prices up and a strong close, I was actually wondering
why even the falling housing prices could be a good news for stocks.
Today someone finally realized that the US economy is slowing down and
this recovery is simply not sustainable. May be it is the same banks
which fueled the market to the upside… and that are aware that in this
political climate further stimulus is impossible.

From Reuters:

U.S. stocks skidded on Wednesday as more weak economic data cemented fears the U.S. recovery was running out of steam and prompted Wall Street firms to slash forecasts ahead of the closely watched payrolls report on Friday. Goldman Sachs and several other big financial institutions cut estimates for non-farm payrolls growth in May after ADP Employer Services reported much lower-than-expected growth in private payrolls last month.


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