I can't tell you how many times over the past thirty two years I've witnessed a given event or development that was construed to be good or bad appear to produce the opposite result in the markets. As it turned out, each instance occurred when the conditions, or what I like to call the setups, were ripe for a counter-intuitive move.
Per Edwin Lefevre's incomparable 1923 classic Reminiscences of a Stock Operator:
Not even a world war can keep the stock market from being a bull market when conditions are bullish, or a bear market when conditions are bearish. And all a man needs to know to make money is to appraise conditions.