The market spent the whole week trying to convince itself that $130 oil was a weather event. By Friday it almost believed it. The S&P flat on the year is either the most impressive act of collective denial in a generation or the most accurate read of the situation anyone has produced. Consumer confidence at a 1980 low while equities hold their ground is not contradictory data. It is two different crowds staring at the same fire and disagreeing about whether the house is burning.