- Yi: +6
- Now trying to bottom out: $CRB, $WTIC, BPZ, EEFT
- Attempting to hold the 28 DMA: PRBLX-weekly
- Attempting to break above the 28 DMA here: PGM, RBS, ROK
- Extremely oversold here: FUQI
- Attempting to break above some falling trendline resistance: AVAV, BAC, CHK, CLF, DELL, ELN, FXI, GE, GF, GLW, GPC, IYY, KBE, LEN, LUFK, MEOH, OCR, PTR, RJZ
- Attempting to break above the 65 DMA here: $OEX, COGO, GF, IRF, LDK, NAT, SCHG, SHI
- Toppy here: $GOLD
- 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.
No comments:
Post a Comment