Havent come across are clearer indicator than this. Matches up perfectly with market bottoms in 2003 and 2008. Clearly defined and looks like a small breakout. It appears December 18 may have been the bottom and beginning of a new positive trend. Hard to argue with this ratio.
Beyond Technical AnalysisChart PatternsS&P 500 E-Mini FuturesS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend Analysis

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