The ratio of the DJIA and 30-year bond price. Falling ratio indicates stock nonperformance, rising ratio indicates stock outperformance.
The horizontal is a smidge over the 130 level. The 126 level is the most conservative line in the sand, below that I think we have a clear breakdown underway.
A decline of less than 4 percent in the Dow or a less than 4 percent rise in the 30-year bond price, or some combination, would take this chart below 126.
Game ON!
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FEEDOn Semiconductor (symbol ON) looks beautifully positioned for a bearish
position:
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