An asset class should not be limited to securities alone. For example, derivative financial instruments, collectibles, and horses are not securities but are asset classes. Asset classes may exhibit low correlation to other asset classes, but it is not a requirement. For example, say German bonds and Korean equities were highly correlated, I doubt that anyone would consider them part of the same asset class.
Friday’s Settlement: 2902 (- 82) UPDATE: NO CHANGE: For the last sixteen weeks 3010 (our proprietary black resistance neck- line) has acted as the key upside pivot, and price action remained under that point (on a close basis) for this entire period. 3010 remains the pivot between a bullish and bearish market. It (3010) has worked like magic. Providing resistance to the tick. Eight days ago the market once again failed at that region, and is now suffering.