$TLT is a great proxy for the bond market. If it trades higher bonds are being bought, lower implies bonds being sold. Since the start if the taper bonds have embarked on a strong rally right along side stocks, defying logic that bonds and stocks should move in opposite directions. Recently this trend has started to break. Stocks are pulling back, but bonds are continuing to rally.
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What is Energy Telling Us? $XLE $SPY
$XLE did not hit record highs with the S&P 500 last month. It put in a lower high and has crumbled to 8 month lows. I think we could be looking at the current level as a spot where we could get a reversal. Whether it lasts longer term is debatable, but $XLE is right at long term support , if there was a time for the ETF to reverse course it would be right now.
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