SPY OVER TNX - BIG PICTURE

tnx / weekly

i'd intended to post up-close charts of the various maturities ahead of this weeks auctions, ah.. nah, too far outside the purview of this blog (and too tedious). so looking at the traditional correlation, the smart bet for equities here is to fade the dips (unless you think 'its different this time'). imo that big 6.5 deviation for the benchmark was it, trend change. i saw the weekly channel touch back then but was also watching the news and didn't trust the ta, sad
btw, usd doesn't have to go up on tsy yields, its expectations for the rate differential vs. primarily the euro (weighting) that matters ;)