- Yi: +2
- Trying to bottom out: QID
- Standard oversold: HMY
- Moderately oversold: ABX, AEM, GDX, KGC, PLG, RGLD, TOT
- Attempting to hold the 28 day moving average: BMY, NAT, SLW, SSRI, WGW
- Attempting to hold the 65 DMA: EGO, EWJ, GG
- Attempting to break above the 65 day moving average: NWL and URE
- Moderately overbought: $CRB, CHK, IRF, TAN
- Standard overbought: $IIX
- Possible top here for: CREE and NTES
- Toppy here: $IIX, $SOX, AAPL, ACH, AMAT, EXP, F, GA, LPL, MFE, PBY, PNRA, UGP
- A break out in either direction is on the way for: FSLR
- More later. 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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