Nasdaq Soars To Record Highs On Dismal Data & Vapid Volume

Humor required...

Despite a quiet week for macro data, what there was a disaster (from PMIs to housing to durable goods)...US Macro at new 6 year lows...

Which can mean only one thing... This week was the best for most major stock indices since Bullard's mid-October "QE4" hint rescue...

On the day, early weakness was immediately BTFD and data just helped... with Nasdaq and S&P hitting new highs...

Trannies and Small Caps red today (but look how narrow today's range was in Dow and S&P)

Decoupling started yesterday morning...

Volume was a total disaster!!

The Nasdaq won on the day - but went nowhere from the gap open... in fact - as the following chart shows, every major index closed below its opening level...

AMZN up 15% today! AMZN!!! the biggest single day move since April 2012

Bonds were bid again today (as rate-locks from the giant AT&T bond issue) stopped weighing on Treasuries. However, yields closed higher and steeper on the week...

The USDollar dropped 0.45% on the week (down 5 of the last 6 weeks) - Swissy did a big roundtrip after dumping midweek on SNB comments.

Despite Dollar weakness, all commodities ended the week lower (even crude) with a big dumpfest this morning dragging everything down. Note Copper's miraculous recovery post RRR-Cut...