Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

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’.

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Still Testing 3900

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The rally from the first backtest of 3900 was over too fast to set up any possible possible divergence on the daily RSIs. That means that there are no possible daily RSI buy signals brewing on the US equity indices, and that is a strike in favor of the bears.

The inflection point here remains the same. The rally could resume from the important support in the 3900 area, or that area could fail into a retest of the 2022 lows.

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