A look @ the $SPY vs $TLT divergence today

1 min ES

Around 12:15 ET the $SPY diverged with conviction from the price of $TLT. Notice how this divergence was the precursor for the ES trading into 1523.50 highs.

The morning session saw prices upward though much all non directional chop came during the 1 hour from 11:15am till 12:15pm as TLT and SPY prices were touching each other.

1 min SPY vs TLT – the triangle is convergence. hypotenuse is max divergence 

Further divergence means higher prices for equities into the final hour…. what is troublesome to the upside thesis today is DX strength as the index is eyeing 2013 highs over 82. Dollar strength is causing CL to flop around like a dead fish. 

IF you would like more inta-day updates via twitter and the TFP morning letter sign up for the service with a 3-day no cost trial HERE

 

Related Hedge Accordingly Content
Bloomberg Television’s economics editor Michael McKee spoke with San Francisco...
H∆ Top10
Indicators which foretell the future? You don't say..(SPY)
Goldman's Gregg Lemkau on falling short in Q1 M&A ranking $FB
Alan Greenspan: U.S. running out of buffer in economy; Stocks to see significant correction.
Fed's Plosser: continued low rates may not heal labor markets; The longer we wait, the bigger we risk we'll have to raise interest rates faster when the time comes
Ackman: We Spent Investors' $50M Probing Herbalife, $HLF's Nutrition Club Is 'Total Fraud'
Real-Time Charts
Appaloosa's Tepper to BBG: Stock Markets Not in Bubble
Here Are Two 20 Year Charts Of The $SPY $SPX Following a RECORD SP500 Close Of 1,854
 Is Russian Oligarch Alexey Mordashov Comfortable Doing Business In The US? "Absolutely"
Goldman COO Gary Cohn on Cantor defeat: "We've all enjoyed having Eric in the Congress"

Archives

wordpress stat
Hedge Accordingly by HedgeAccordingly is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Based on a work at http://www.hedgeacccording.ly