- Yi: -2.5 (So we had a significant rally off the Yi -5 secondary low as predicted, but I still am not convinced the bear market is completely over yet longer term.)
- Probable bottom here for: $HGX, AKNS, ARM, AXB, BPZ, CAT, CPSL, EEFT, EWI, GF, PGM
- Possible bottom here for: CTB
- Trying to bottom out in this area: AEM, AIG, CHK, COGO, CSIQ, ERIE, GA, GM, LEN, LUFK, MKC, NAT, OCR, PBW, PBY, PLG, SHI, TAN, TPX, WATG, WFR, WOR, X
- Extremely oversold: EXP
- Moderately oversold: The gold weekly chart.
- Attempting to break above the 28 DMA here: JNJ and PEG
- Attempting to break above the 65 DMA: BMY
- Anything posted here may be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
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