SPY put back ratio

I just went to update this trade as I closed it out and realized that I never posted the initial trade. Last week after I closed my losing SPY call back ratio I immediately put on a put ratio for August. I bought a 1x2 110/102 put back ratio for $1.02 debit and just closed at $1.62. Because of my experience last month of trying to go for a home run and ending up losing big, I decided to take some profit now and risk missing another home run. Since this is a five week cycle and we still have plenty of time I wanted to book this profit now and look to enter another bearish trade if we bounce higher. I'm also a little perplexed at the TA chart action. I wasn't expecting another breach higher of the resistance line so maybe it's time to accept that that line is no longer valid. But again, since I'm not entirely sure where we're at I took the trade off and will look to re-enter.

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WOW! I think that sums it up

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