RSP/SPX*30
This indicator shows relative strength of an equal-weighted sp500 w.r.t. the market capitalization weighted sp500. In bear markets, the market as a whole is doing well, and RSP does 100% better than SPX. However, if the ratio dips below 1.0, this is signs that a few big players are carrying the market.
n.b. i weighted by 30 for display purposes.
n.b. i weighted by 30 for display purposes.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.