High Yields telling a different story...

The S&P500 has closed up for 9 out of the last 10 weeks - a herculean task. Today Apple Computer was down $11.00+ and the NASDAQ 100 was on up smartly. Whats up with the push? Well, Treasuries have played out exactly as expected in my previous posts and the dollar too…yet equities think both no longer matter. A little closer to equities, High Yield Corporate Bonds, were not too thrilled today and appear to be continuing to setup a solid head and shoulders pattern…hmmm.