- Yi: +4.5
- Trying to bottom out in this area: $USD
- Moderately oversold: GPC
- Attempting to hold the 28 DMA here: AVP
- Attempting to break above the 65 DMA: ABX, GG, GIS, GLD, MKC, SUN
- Moderately overbought now: $CRB, $WTIC, $XAU, $XEU, ARM, ASA, BAC, EGO, EWJ, GDX, GIS, KBE, KFT, KGC, MBI, PTEN, SHI, SLW, SPWRA, T, TIE, TKR, TOT, UYG, X
- Standard overbought: $SOX, $SPX, $XOI, ACAS, ACH, B, BNI, BPZ, DVY, EWA, GE, JASO, NOK, QCOM, SDTH, SSRI, TAN, UGA, USD, WFR, XLF
- Extremely overbought: AAPL, ACF, AXP, CTB, FCX, GF, IBM, IFN, V, WATG, WOR, WSO
- Toppy here: ACAS, CBK, CLF, CSL, FSLR, IFN, MFE, MSCC, NAT, NM, NWL, PBW, PEG, RBS, STX, SU, SWK, TSL, WHR
- Possible top here for the $IIX index.
- A break out in either direction is on the way for: GM
- 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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