- Yi: +8.15
- Now trying to bottom out in this area: COST
- Moderately oversold: AA, ACH, CHK, CSIQ, FXI, GDX, GOOG, NTES, WOR, X
- Trying to hold rising trendline support: $CRB, $XOI, AA, BGS, CAKE, ELY, FSLR, HCBK, KFT, NEM, PAYX, PBW, PTEN, QQQQ, SKS, SWK, TOT, TSM, V, VFC, VOD, WATG, XLU, YGE
- Attempting to hold the 65 DMA here: $XAU, ABX, ELN, EWI, FCX, GG, IFN, MFE, PTR, SSRI, X
- Attempting to hold the 28 DMA here: $IIX, AEM, BMY, EWJ, UYG, WFR
- Trying to hold falling trendline support: MTH
- Attempting to break above the 28 day: AVAV
- Attempting to break above the 65 day: $VIX
- Toppy here: MBI, PBY, TLB
- 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