Trading volumes today are running at the lowest pace since 2006, crude oil prices ae testing back towards fresh 5 year lows, and Treasury yields are all lower... so it should come as absolutely no surprise that the S&P 500, Dow Industrials, and Russell 2000 have all hit fresh intraday record highs today.

SPY volume at it lowest since 2006...

and e-mini...

As or 1pm, eMini volume is lower than it's ever been since at least 2006 (excluding partial trading days) $ES_F $SPY — Eric Scott Hunsader (@nanexllc) December 26, 2014

OK guys, I know it's a Federal Holiday. This isn't the first one since 2005, is it? — Eric Scott Hunsader (@nanexllc) December 26, 2014

So stocks are surging to record highs...

As Treasuries rally...

Crude continues to slide...

Charts: Bloomberg and @NanexLLC