The market has absorbed 10yrs worth of growth. The question is when, not if. When will the market remove this big discount.
Even if tomorrow's number is bad, the market's current multiple reflects bad, and I do not think the market will correct severely unless there is a threat to the financial system. As the days pass, and there is no financial system collapse or threat of a collapse, as soon as better data begins to trickle in, this market will rally hard.