LDPM (Liquidity-Dependent Price Movement) measures the liquidity environment that the price-movement finds itself. When LDPM is above the price, this is a bearish outlook. Here we have a smoothed-LDPM (blue line) and the "raw"-LDPM (green/red line) well above $SPY's current price on the Daily. This is indicative of poor liquidity on the upside, and infers...