- Yi: +3.29
- A possible bottom here for: $GASO and $WTIC
- Now trying to bottom out: AA, BAC, BMY, C, CHK, ENER, FSLR, SPWRA, TAN
- Extremely oversold: $XOI, ENER, SPWRA, TAN
- Oversold: CLF, EWA, PGM
- Moderately oversold: $HGX, $SOX, A, AXP, BA, BMY, CNK, CTB, ELY, FRO, GE, GPC, IRF, JASO, KGC, LMT, LOW, LUFK, MMC, PHI, QLD, QQQQ, SHLD, SSRI, SUN, SWK
- Now trying to hold some rising trendline support: $DJX, $HGX, A, CAT, EGO
- Attempting to hold the 65 DMA here: $XAU, BBT, CBZ, KFT, MKC, NEM, NWL, SLV
- Attempting to hold the 28 day: GLD
- 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