Historically, a rising spread between the 10 and 2 year treasury is a good thing for stocks. It shows confidence in the future. Looking at the GoNoGo Chart here we can see a very strong "Go" trend with price consistently making higher highs and higher lows. The GoNoGo Oscillator has also found support at the zero line throughout this move, as we'd expect during a strong trend. After setting a new high, the GoNoGo Oscillator is coming off overbought extremes so in the short term we could see a pull back to the trend line.