I understand what you are saying...but i just think we need to really separate current economic and fundamental data from the market itself. it sounds illogical, but i think that's the better way to play the market short to interim term...by accepting that fundamentals will lag, and today's NEWS and DATA reflects yesterday's price.
again, i'm would say at this point i am long term bearish, but short to interim term i'm going with the flow...hedged every step of the way where it makes sense.