With equity trading volume contracting last month in typical summer fashion, interpreting conviction behind movement in the indexes becomes more difficult. Indicators that can help provide confirmation of the markets direction are therefore more useful. One indicator that we find helpful for doing this is the relationship beween investment grade and high yield corporate debt, measured using the ETF’s LQD and HYG respectively. Not surprisingly the direction of this ratio tends to move opposite to the S&P 500 Index, as times of uncertainty cause capital to favor higher rated issues resulting in outperformance by LQD relative to its riskier peer. Conveniently, trend changes in the ratio’s level typically show up alongside trend changes for the major equity indexes. In certain instances they will even lead the equity markets slightly, adding to their usefulness. The chart below shows a daily history of LQD versus HYG going back to April of 2007 (the inception

Continuing with our effort to bring increasing value to our membership, the MTA Board is announcing the MTA Career Development Center (CDC). David Keller, President of the MTA recently announced this additional benefit to our Member Services. The primary focus of the MTA Career Development Center will be creating and distributing resources to expand and enhance the membership’s marketability. The MTA is always actively pursuing new member benefits to make your membership with the MTA that much more valuable. We believe that this service does just that! This new service is a direct result from feedback that we received from you, the membership, in various member surveys. The Career Development Center was activated in August. You will find the CDC at MTA.org, under the “Other Services” dropdown. Initially, the Center will focus on basic presentation skills: writing cover letters, resumes, successful interviewing techniques, dressing for success and social networking ideas. You

Since April 2010 and the emergence of the European Debt crisis, treasuries have been in a strong uptrend as investors are seeking protection from risky investments. It appears we are in a deflationary crisis, similar to 2008 when treasuries soared higher before the massive government stimulus. Now, in August 2010, for the first time since the 2009 lows, the markets are under pressure with a major run out of equities and toward treasuries. A question many ask is whether this rise in treasuries is sustainable. My conclusion is that the treasury markets are unable to sustain a parabolic rise. When a technician sees a run in 2 to 3 weeks with several upward gaps, it should send warning signs of a potential bubble top. A study of the previous top in treasuries in 2008 shows a  parabolic move upwards, but only four months after this run all gains were wiped

Career Development Center – New Additions! The MTA would like to announce that the following resources have been added to the Career Development Center. Linkages to Other Industry Related Job Boards “Preparing for a Behavioral Interview” by MRI Network “Twelve Steps to a Smooth Resignation” by MRI Network To visit the Career Development Center, please click here! Career Development Bookshelf The MTA has opened a new portion of our library, dedicated specifically to career development books. In this section, we will suggest various additional reading materials, each of which are available through the MTA Library free of charge. This week we have added the following books: “What Color Is Your Parachute? A Practical Manual for Job-Hunters and CareerChangers” by Richard Bolles “Gallery of Best Cover Letters: A Collection of Quality Cover Letters by Professional Writers” by David Noble Visit the Career Development Center for a listing of the newly added books. If you have any suggestions of books that should