in 2007, TLT rose several months before SPY peak (front run market top), and in 2008 dropped several months before the market bottomed (front run the bottom).
The previous chart about Sell in may had me questioning on what grounds did you decide to project 2008. For now for me it looks like 2011 action, a mid-election year and the start of the year is kinda the same. Then seeing this chart, i see a resemblance of TLT action (so far) to 2011 as well. It does look like 2007 as well, but at this moment i would prepare for 2011 price action....and both ways, sell in may ;)
CosmicDust
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Hi 2use, this is speculative based on chart similarity. I keep this in mind but I do not make investment decision based on it. A moving average based trend following system is a better way to time the market IMHO. I do think it worthy paying attention to bond strong performance so far this year. Good Luck!