Boos following Spoos for first time since...

["T-BONkkkkkkk" <T-BONkkkkkkkkMSNkkkM>]

Since we started all this 'save haven' business, when the Bonds started
being contrary to the S&P (about nine or ten months now, I think) yesterday
was the first day that the Boos and Spoos went  in the same direction.
Today, it is the same!!

Yesterday, the Boos broke out of a wedge on a major res/sup line, to head
south before a 'thank you' run to the close in the last half hour.
Uncommonly, the Spoos went with them - failing only not to accompany the
Boos on the 'thank you' run.  Today, the Spoos have followed the Boos ever
since they opened and when the Boos broke out of another wedge to the south
on major res/sup, they followed.

And, now that the Bonds have reversed on yet another major res/sup line (a
bit early for a 'thank you' run) and it looks as if the S&P is following.
This major shift in correlation could be highly significant.  If bonds stop
being safe haven status, then where are we?!!

All these measured moves on the bonds are great for the day trader, but I
don't fancy the position traders' guessing game - and as for those who like
spicy Spoos...

Ah well, just in case you hadn't noticed,


Bill Eykyn