Home > charting trendlines, Financial Ponzi, investing, Stock Market, technical analysis > SPY: leading higher, or late realizing that we’re headed lower?

SPY: leading higher, or late realizing that we’re headed lower?

Take it for what you will, but the S&P (using SPY as its proxy) is leading a variety of other “risk-on” asset classes over the last 10 days.  Macrostory noted the breakdown in correlation between the Australian Dollar and the S&P, and below I’ve compared the S&P to high yield bonds (JNK), the Euro, Emerging Markets (EEM) and Copper (JJC)… and found the S&P to be topping them all over the last 10 days.  Is SPY hearing the sleigh bells of a Santa Claus rally first, or is SPY just less willing to price in global risk?

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