swing hold SPY short is the profitable action while RSP remains below $88.18,
and knowing horizontal support below at 87.54 to 87.64 zone must fail permanently in order for bears to control the SPY price action to the downside
no bullish control for SPY until RSP actually permanently holds above the $88.18 horizontal level.
* see that the RSP:SPY daily ratio is recently achieving daily closes approaching the ratio's late December 2016 low, and that the ratio is generally forming lower tops since December.
here is a comment thread about the topic of the ratio, since it is what I consider one of the top 3 TA tools for trading the SPY, and choosing when to be swing long or swing short the SPY -
yes, my handle other locations is hiker, while I am rimshot at IHub
the horizontals on this RSP daily chart will not be correctly reflect the future price action after Quad Ex in this IHub post once the next SPY and RSP quarterly dividend payment takes place, so I will need to re-post a chart update when the next Quad Options Expiry takes placewith chart settings that reflect the payment in the look-back price history.
chart #2 - RSP 60-min, with RSP:SPY hourly closes ratio within two different BB's
* at the close on Monday January 23, 2017 the bad news bears are controlling the internals for SPY because the RSP:SPY ratio has been living in the downside as evidenced by lower tops since last week's peak for the ratio -
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