Slope of Hope Blog Posts

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Keep Feeling Oscillation

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This was more relevant early this morning before our melt-up, but it still holds true: I’ve seen many mentions lately about how the McClellan Oscillator is more oversold than it has been all year long, and surely this must mean the market bottom. Allow me to offer this chart from 1987, and in particular where the chap is pointing out a similarly Most Oversold EVER McClellan for all to see. I have tinted this point on the price chart in yellow. As you can clearly see, all that happened afterward was that the market “burned off” the oversold nature of the market and, soon enough, completely crashed into oblivion. Just sayin’.