FIrst step towards that bounce I mentioned?

Last night I was talking about a bounce that I've been expecting S&P Where do we go from here?, and it looks like this morning's GDP revision is giving us the first leg up.  Original Q2 GDP showed growth of 2.4%, and the expected revision was anticipated to come in at just 1.4%.  Low and behold - it was only revised down to 1.6%!  Futures are rallying as a result.....something that I never get.  So the news is bad - GDP growth is 30% lower than what was originally stated, but...it's not quite as bad as what we thought it could be, so lets go gun the market??? 

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 I can't wait for the final Q2 revision to come out next month....likely below 1%...we'll see.  More to the point however, why are we looking backwards and rallying on what happened in the past?  Current quarter GDP numbers are likely to show contraction, but that's okay...I was looking for a bounce to get into short positions again anyway, so bring it on!  Next on deck - University of Michigan at 10:00.  Will it add to the rally, or pop the balloon???