Slope of Hope Blog Posts

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Mean Reversion Looks Close

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The last high on SPX reached a few days ago was an impressive 5.54% above the 45dma, one of the highest readings in the last decade excluding the initial spike up from the March 2020 low, and slightly above the 5.4% reached at the early 2018 high. Coupled with the strong punch over the NDX weekly upper band then, that is a strong indicator that at least a short term high is being made, and I’m looking for a reversion to the mean move back to the 45dma, currently in the 4491 area.

SPX Daily vs 45dma chart:

SPX Daily vs dma