STRANGE TIMES INDEED!

A look at these 2 charts indeed tells 2 different stories. On the one hand the dow industrials is in a downtrend of lower highs although this week we've seen a nice rally and maybe we can get above support in time. Meanwhile MLPS continue to just roar along and why not. When the yield spread with the strongest mlps is over 4 basis points to the 10 year it becomes a magnet for money. The mlp chart is getting close to 320; where the dow was over 11k. Now the dow is over 10% lower from that rally high and we are right back at the door. Relative outperformance continues and no sign of any change in momentum or trend.

We are just under 318 this morning up another point and small change. No news and no upgrades or downgrades that i could find so far. The heat here in the east got to me the other day and so i apologize for no posts yesterday. It was tough enough just to get out of bed!