For traders on Wall Street, 'good news is bad news'

THE US stock market just went through the looking glass.

Last week's retreat was caused by one of the best economic reports in a decade. Investors are hoping that reports from the jobs market and retail sector this week will be terrible. Confused? You should be.

"It's an upside down world we live in," said Joe Kinahan, chief derivatives strategist at TD Ameritrade.

It's an old Wall Street phenomenon known as "good news is bad news" that tak…