Remember, the stock market is not the economy... Collaping retail sales, soaring inventory-to-sales ratiosm and entirely fictitious China trade data...
Can mean only one thing...
The biggest 2-day short squeeze in 6 months...
Which has sent Trannies and Small Caps up most this week...
Nasdaq and Small Caps remain red for the year... but are at their highest close for 2016...
With Trannies roaring today... but everythiong slowed after Europe closed...
The late day pump was as AdParlor walked back its earlier comments on ad spend reduction in Facebook)...
Bonds & Stocks decoupled after the macro data...
Oil & Stocks decoupled today...
Treasury yields rolled over today after the dismal economic data...
The US Dollar Index surged today on EUR, JPY weakness...
The strong dollar sent gold lower but silver surged; copper also popped (because China is awesome) and crude slipped because Doha deal is a farce...
Silver pushed closer to taking out that 6-month high...
What Happens Next?
Charts: Bloomberg
Bonus Chart: 5 of the last 6 times that shorts have been squeezed this much this fast, stocks have stalled dramatically.