Users: Closing Basis - go with the flow: 161214 - PutCall original marked.jpg
161214 - PutCall original marked.jpg
This is a chart showing a 10day MA highlighted on SPY every time it was below .58 over the past 14 years. Usually when the average started regaining ground, the index sold off, BUT sometimes the low levels persisted for months on end. Seems pretty difficult to time. It is just one way to view the current market condition though.