Buying bond here is against the EWI call for lower prices. However, with stocks ready to turn lower and the bonds' own I1 gauge turning up I think it might be an intelligent short-term buy. Here is the 73-day M/A coming in at today's lows.
In the stock market I1 continues to turn the Titanic around. There is a lot of mass and momentum there. With this kind of multi-day congestion minor new highs are to be allowed for because it is an environment where the potential for "sucker plays" exists. I won't sell my ETFs until DJI exceeds Tuesday's high by 27 points. 10,588 + 17 is 10,603. The other point will be SPX 1129.