SPX vs TLT - No Major Top Yet.

The price relationship of the SPX to the Long Bond, has yet to indicate a top.  Past tops of the recent past have been preceded by divergence in the SPX/TLT RSI (Middle chart). Following the divergence a sell signal of the standard deviation model (lower chart) is required.. Notice the current RSI, while over bought, lacks divergence. The standard deviation model at this time is diverging from a cross over.

The recent sell off in bonds has bought equities some time.