"Market Sentiment Solid Despite Technical Divergence in SPY and TLT"

The author presents a neutral outlook on the SPDR® S&P 500 ETF Trust (SPY), expressing concerns about the growing discrepancy between real interest rates and the upward trend of the SPY. They suggest that a correction in the market may be imminent, possibly reaching 10-20%, due to the overheated and overbought status. The author emphasizes that this is not an attempt to time the market and does not encourage shorting the SPY, but rather provides food for thought. They also discuss the impact of 10-year treasuries on the stock market and the potential scenarios that could unfold in relation to real interest rates.