Stocks and Bonds Up; Gold and Oil Down

Check out the original post at InformedTrades.

Market correlations are a bit peculiar at the moment. US Stocks and bonds are up, but oil and gold are still below their 50 SMA.

Below is a chart of SPY, the ETF tracking the S&P 500. We can see that it is in the top half of its channel. With volume still far from peaking, though, I'm personally inclined to think price can continue levitating higher -- at least until the upper trendline of the price channel.


https://www.tradingview.com/x/qVa23umd/

Meanwhile, oil has fallen sharply of late, and is now at its 50 SMA on the weekly chart.



https://www.tradingview.com/x/RN3OQspe/

20+ year Treasury bonds, as expressed by the ETF TLT, also appear to have bottomed from their recent decline.



https://www.tradingview.com/x/JVwSmsBu/


Do you think this correlation is significant and will persist?

Don't see much optimism in bonds to the upside.
If gold continues to move up I would want to think oil would keep rising as well with the impending middle east crisis there could be a disruption in oil supply at any time.
But I think the real disparity is the with US stock market which may be due for a correction.......

Just my two cents..........