- Yi: +2
- Now trying to bottom out: $VIX
- Up against rising trendline resistance: NEM
- Up against the 28 DMA here: $IIX, $OEX, AAPL
- Up against the 65 day: $CRB, $XAU, C, DVY, GPC, KO, PBW
- Up against falling trendline resistance: $CRB, $HGX, CLF, COST, EWA, EXP, FUQI, GLW, HOGS, PRBLX
- Moderately overbought now: C, CAT, DDM, GF, IDA, LUFK, PTR
- Toppy here: FSLR
- 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