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To: chainik who wrote (130814)	3/16/2006 8:21:10 PM
From: skinowski	Respond to of 209892

The 5 year version of that chart gives more of a feel about how SPX and TNX were "relating" in recent years. And the "max" version (below) reflects the great Bull market in stocks starting from 1974 - followed, after a 7-8 year delay - by the start of a secular Bear in rates. Actually, in inflation-adjusted terms, the final low in SPX occurred already in the early 80's, probably just about coinciding with the top in rates. finance.yahoo.com

To: chainik who wrote (130814)	3/16/2006 8:33:15 PM
From: Shack	Read Replies (2) \| Respond to of 209892

I'm not sure what you mean chainik. We've discussed this before, there is no negative correlation between these two charts. Otherwise why would rates be at 3 year highs and the SPX at 5 year highs? If anything (and I am not supporting this either) there has been a positive correlation. And we sure as heck shouldn't be anticipating a future negative correlation based on FA, that is the last thing I want to see on this thread. Its after-hours so I don't really mind the stock:bond chatter, but please folks, this is not TA or E-wave. What is TA and E-wave are the upside breaks of the SPY, $SPX and COMP wedges on the weeklies, as well as the likely (iii) of 3 up on the BKX off the Oct low. Yes I am very bullish.....but I am more than willing to listen to some TA-based bear arguments. The chart which best supports the bear case was pointed out today (by Freep no less!-g) that being the SOX, anyone else have any thoughts on this chart?