- Yi: +3.75
- Trying to bottom out: GDX, NEM, SUN, WSO
- Extremely oversold: C
- Moderately oversold: AVP, BPOP, CSCO, EWA, EWI, EXP, FXI, GDX, GG, PEP, RGLD, TKR, UGP, WATG, XLF
- Attempting to hold the 65 DMA here: GLD, PGM, PHI, SLW, SSRI, TOT
- Attempting to hold the 28 day: QQQQ, RJZ, ROK, SSO, T
- Trying to hold some rising trendline support: $PLAT, ACF, ACH, BBT, CREE, IYY, NWL, PEG, YGE
- Trying to hold falling trendline support: KGC and SHI
- Now up against rising trendline resistance: ARM, MSCC, WHR
- Trying to break above falling trendline resistance: $VIX
- Moderately overbought now: $CRB and CSL
- Overbought: ARM
- Toppy here: BPZ, IRF, WDC
- A possible top here for: CNK
- A break out in either direction is on the way for: GE
- 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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