- Yi: +2.9
- A possible bottom here for: RJA
- Now attempting to bottom out: $CRB, $DJW, $WTIC, ACH, BPZ, CAT, CTB, DDM, DELL, ENER, EWI, EXP, FCX, FUQI, GF, GG, GOOG, IBM, LDK, LOW, LUFK, MFE, MOT, QCOM, QLD, QQQQ, RJZ, SU, TIE, TOT, WDC, WFR, XLU, YGE
- Oversold: AMAT
- Moderately oversold: $GASO, $IIX, $OEX, ARM, JOSB, LPL, NAT
- Attempting to hold the 28 DMA here: PRBLX-weekly
- Trying to hold some rising trendline support: F, FRO, GIS
- Attempting to hold the 38 day: OGE
- Attempting to hold the 65 DMA here: CHK, LMT, MKC
- Trying to break above some falling trendline resistance: $XAU, AA, CPSL, EGO, GLD, IRF, KGC, SHI, SHLD
- Attempting to break above the 65 DMA here: SLW, SSO, TKR
- Moderately overbought: WFC
- A possible top here for: $USD
- A break out in either direction is on the way for: $HGX
- 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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