McClellan Oscillator at oversold levels; close to bounce?? The Oscillator got down to -150 on the SPX. This is an area from which we have had bounces in the mkt. Of course it can fall further, since it got down to -300 at the July 24th lows.This may be a good time to tighten stops on short positions, just in case we get a snapback. Of course, more warnings like EDS and we will me at much lower levels in a heartbeat.