- Yi: +1.98
- A possible bottom here for: BBT, BPZ, EEFT, FUQI, GE, HCBK, NOK
- Trying to bottom out in this area: $SPX, $XOI, ACF, COST, CSIQ, DVY, GOOG, IYY, PAYX, PG, QLD, QQQQ, SCHG, TAN, USD, WFR
- Extremely oversold: FUQI and GE
- Oversold: AVAV, CAKE, CNK, DELL, F
- Moderately oversold: $DJX, $IIX, $OEX, $SPX, $XOI, A, AA, ACAS, ACH, AMAT, AMSC, B, EWA, GLW, GPC, KO, PHI, RBS, SPWRA, URE, USD
- Now trying to hold some rising trendline support: OCR and TOT
- Attempting to hold the 65 DMA here: IBM and LUFK
- Attempting to hold the 28 day: EWI and T
- Now up against rising trendline resistance: NEM and SUN
- Now up against the 28 day: FCX
- Up against falling trendline resistance: DM, EEFT, ELN, ENER, JASO, PGM, SLV
- Now up against the 65 day: UGA
- Moderately overbought: GG and QID
- Overbought: GDX and SLW
- Toppy here: $GOLD-weekly chart.
- 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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