The stock and T-Bond prices often move in opposite directions, and in August 2019 that movement has reached a pretty extreme degree. The basis for that statement comes from the indicator in this week’s chart, which comes about through some fairly simple math. I calculate a 10 trading day rate-of-change (ROC) for both the SP500 Index and for near-month T-Bond futures prices. Then I find the difference between those two, expressed in percentage points. It is a very short lookback period, not intended to represent “investment” returns, but rather to capture extreme movements which may have interpretational insights ... (full story)