The dividend yield is closer to the start of a leg down than the end judging by the range established over the last decade or so. This would mean stocks go higher since there is multiple compression.
Then there's the long treasury etf minus the long S&P 100 etf. It seems like either treasuries will flatline or go down while stocks are going to be going up.
Low rates are the underpinning behind this massive global squeeze. I'm of the belief that politics will prevent Yellen from raising rates, so we could be seeing even more of a rally going into November.
