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EDV - Bullish breakout, bad new for S&P?

Pembelian
Vanguard Extended Duration Treasury ETF (AMEX:EDV)  
MoreThanPaper  
AMEX:EDV   Vanguard Extended Duration Treasury ETF
EDV SPX (S&P 500 Index) bonds S&P 500 (SPX500)
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edv spx bonds spx500
EDV has done well since the S&P cooled off at the beginning of the year. The two have a predictably negative correlation, however, even though the S&P has been doing relatively well since mid-February, a weak pennant has formed in EDV and there are signs of a positive breakout.
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