- Yi: +2
- Trying to bottom out here: HMY, KGC, LUFK, NEM
- Standard oversold: TLB and TOT
- Moderately oversold now: $XAU, GTU, PEP, PHI, SU, SUN, TIE, WFR
- Attempting to hold the 28 DMA here: BPOP, C, CSIQ, HCBK, JASO, MSCC, NAT, PGM, QCOM, URE, WFC, XLF
- Attempting to hold the 65 DMA: $CRB, ASA, SDTH, SLW, TAN, TKR, UGA, UGP, UYG, V, X
- Standard overbought now: IRF
- Toppy here: JOSB, MFE, MOT, SKS, WY
- Possible top here for: EEFT
- A break out in either direction is on the way for: XLU
- 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