- Yi: +4.5
- Probable bottom here for the $VIX
- Standard oversold: GTU
- Moderately oversold: COGO and RAIL
- Attempting to hold the 28 DMA here: ACAS, LOW, LPL, WY
- Attempting to hold the 65 DMA: VFC
- Attempting to break above the 28 DMA: $PLAT, BMY, PGM
- Attempting to break above the 65 DMA: $GOLD. $IIX weekly, KGC, RGLD
- Moderately overbought now: ABX, BPOP, C, GG, NEM, PG, PRBLX weekly.
- Standard overbought: $CRB, $OEX, $WTIC, $XAU, $XOI, ARM, CNK, GDX, KBE, LUFK, MOT, RJI, TIE, TOT
- Extremely overbought: $NYA50R weekly, FSLR, SU
- Toppy here: $DJX, ACH, ASA, BA, BNI, DVY, EWA, EWI, FXI, GE, GF, PTR, SLW, SSRI
- Possible top here for: CLF, CTB, IFN, UGA
- Probable top here for: F
- A break out in either direction is on the way for: PEP and PHI
- 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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