Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

SPY vs. TLT Relationship has Shifted...


After Friday's much weaker than expected Jobs Report, let's notice that the iShares 20+ Year Treasury Bond (TLT) (lower chart) is lower, while the SPDR S&P 500 (SPY) continues to levitate up against its Oct 2011 upper-channel-resistance line- a formidable resistance zone to be sure.

Inability of the TLT climb to and above its Aug high at 119.43, followed by a bout of weakness that has sliced beneath its July-Aug up trendline despite relatively-weak economic data and amidst supposedly forthcoming wind-down of QE, should be of growing concern to bond (TLT) bulls.

My near-term work in TLT points to a test of support in the 113.30/00 target zone.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!