Equity continue its run, commodities breaking up, treasuries reversing? moving to last stage of bull run...

Equity Markets continue their rally, with some indeces confirming resistance break and some breaking key levels: eg Korea, Nasdaq, Mexico are above 2008 high, while Bovespa and Sensex failed. Overall equities are clearly in an uptrend. Two points worth highlighting:

1)  The CRB index, which includes 28 commodities futures, has broken its 50% Fibo retracement leaving 35% upside for the next 2 quarters.
2) 10, 5y US treasury yield index are starting to bottom. The yield index, though still in a down trend, is likely to confirm the reversal. This week witnessed an acceleration of the bonds sell off.

What to do then? Keep your long in Equity and Commodities. Within Equity, continue to switch
some longs from Emerging Markets into US, Nasdaq, Japan. Definitely not the moment to hold bonds...

The CRB index monthly chart broke the 50% Fib retracement, the next target is the 62% retracement ie 35% upside. Yes the index is overbought. One rule I learnt over the years, is that in a bull market, you don't sell an overbought signal. However, you buy a oversold signal.

The 10 Year US Treasury Yield Index Monthly chart is bottoming, as the recent low higher than the previous one, with upward momentum on MACD indicator. This upward trend is likely to continue as weekly chart (below) and daily chart show an acceleration of move (Bollinger band break up)

The 10 Yr Treasury yield index weekly chart, is showing a break of the tight trading range. The last bar represents only one week of activity!

Nasdaq (NDX) index breaking 2008 high on monthly chart. As daily/weekly charts have positive momentum (see MACD indicator), the upward trend is likely to continue. 
The next resistance is the 50% retracement of the 2000-2003 crash ie around 2500.

Monthly Eurostoxx 50 chart: tempting a break up of the 38% fibo retracement, which I suspect is going to happen as several markets have broke up, and there is upward momentum on its monthly/weekly chart.

With next target 10% and 20% above.

In all, CRB (oil, metals, food) price is on uptrend, bonds to continue their fall and Equity indeces who have not yet broken their 2008 high, are heading toward it. Keep your long in Stocks, and forget Bonds....Happy investing