Out of Stocks and Into Bonds

Sometimes one chart says it all. This is the S&P 500 ETF ($SPY) compared with the Long-Term Treasury ETF ($TLT).

The two lines are nearly perfect mirror images. In the last three weeks, the lines have dramatically diverged. Going by this metric, the market isn’t nearly as unbalanced as it was two-and-a-half years ago.

Posted by on August 10th, 2011 at 9:12 pm


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