SG 10Y Govt Bond and SPY relationship Part II

In a bearish (engulfing) week for the SPY, it appears that there is more downside to follow, which I would expect. Thing is, it appears that the SG 10Y G-Bonds broke down a supporting trendline, giving advance heads up that it would be a bullish rally in the weeks to come.

Previous dotted arrow line is now sold red as the SPY (blue line) moved up for a last hurrah and retraced really hard down in the weeks following from mid-Feb. Expect a bit more downside, but also expecting a bullish recovery given the heads up from the SG 10Y G-Bonds. The green dotted arrow lien depicts this expectation to last till mid- to end-April.

Let's see...