$SPY $XLP The ratio is testing prior highs. I expect the to see a big bounce here.
So many stocks have been crushed over the last several weeks and we still have a 6900 $SPX.
A bounce here with a rotation out of $XLP and back into the most oversold sectors like $XLK, the $SPX could make a move to 7500 before end of May.
NFA
Happy Trading!