We don't have to take deterioration (in the government survey) for the current quarter so seriously.
Right now, the market is showing a positive reaction to yesterday's earnings results. But investors are also in something of a wait-and-see mood, as we have earnings from industrial electronics firms tomorrow.
There are cases of stocks being bought after beating market forecasts, but most companies that don't meet these inflated expectations are being sold.
I think that investors are very much in a wait-and-see mood at the moment ... with the Bank of Japan's policy meeting today and tomorrow.