- Yi: +5.55
- Trying to bottom out: CSIQ and T
- Moderately oversold: $XAU, BPZ, CPSL, IRF, NTES, PAYX, PTR, RJI, SSRI, YGE
- Trying to hold some rising trendline support: $GOLD-weekly, ABX. AEM, C, EGO, GF, GIS, IBM, JOSB, LPL, NWL, RAIL, SKS, SLW, SU, WOR, XLF
- Attempting to hold the 65 DMA here: $CRB, FCX, PBW, PEG, TAN, TSL, UGP, YGE
- Attempting to hold the 28 day: $DJX, A, CNK, DDM, WHR
- Trying to hold falling trendline support: RGLD
- Now up against rising trendline resistance: $PLAT
- Now trying to break above falling trendline resistance: C
- Moderately overbought: AXP, B, LMT, OGE
- A break out in either direction is on the way for: URE, V, VFC, WATG, WY, XLU, XOP
- 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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