Equities on Wile E. Coyote air run

wile-e-coyote-falling-off-cliff-300x225Shown below since 2000 (in bright color for the weekend!), US 10 year Treasury yields have traditionally been smarter than the equity market in determining turning points in the economy.  Today the gap between the two indicators is positively garish as yields turned down with economic growth in 2011 and US stocks did a Wile E. Coyote off the QE cliff.  Mind the splat below…

10 year since 2000
Here is some further commentary from my partner and technician Cory Venable.
Wording for 10 yr chart

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