Hey SG, here's a different look at the spread in the comment below. I'm seeing a bullish inverse head & shoulders in Long SPY Short DIA, Head & Shoulders Top in Long DIA Short SPY. This isn't a pair I trade or anything like that so no bias - but hope this look helps. Good luck!
imdp
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imdp
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I was having trouble displaying = dollar amounts for some reason -- probably user error, lol. Close enough, point's the same unless you are actively day trading the pair. Sorry about that.