- Yi: -1.5
- Possible bottom here for: $CRB, KBE, PTEN
- Now trying to bottom out in this area: BAC, BPOP, GM, MEOH, PG, USB, UYG, XLF
- Extremely oversold now: BAC
- Standard oversold: MOT
- Moderately oversold: KFT and MFE
- Now attempting to break above the 28 day moving average: ACH, SPWRA, WOR
- Now attempting to break above the 65 day moving average: $HGX, BA, CSCO, NTES, STX, SU, WFR
- Moderately overbought in this area: $GOLD Weekly, CEF, EGO, ERIC, GTU, LPL, NM, PLG, SHI
- Standard overbought now: WDC
- A possible top in this area for: COGO
- A break out in either direction is on the way for: EEFT and TSL
- 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