- Yi: +3
- Now trying to bottom out: ELN
- Moderately oversold: $GOLD weekly chart.
- Attempting to hold the 65 day: DELL
- Attempting to break above the 28 day: $XAU, ACH, ASA, CREE, CSIQ, FCX, GE, NAT, RJZ, WY
- Attempting to break above the 65 day: $GOLD, CEF, RGLD, SU, TSM
- Moderately overbought now: BNI, BPZ, MSCC, RAIL, STX, SWK
- Standard overbought: CTB
- A break out in either direction is on the way for: WATG
- 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