- Yi: -0.5
- Trying to bottom out in this area: $SOX, BPZ, CREE, EWI, GLW, MKC, STX
- Moderately oversold now: NAT
- Trying to hold the 28 DMA here: $GOLD, AEM, CAT, FNM, GPC, GTU, LOW, PAYX, PBCT, PLL, SSRI, UGP, WSO, WY
- Trying to hold the 65 DMA: IDA
- Trying to break above the 28 DMA: $VIX, CBK, CNK
- 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.
No comments:
Post a Comment