- Yi: +1.37
- Trying to bottom out in this area: BBT, C, CSL, CTB, DM
- Attempting to hold the 65 DMA here: AVP and BLL
- Attempting to hold the 28 day: BMY
- Up against some falling trendline resistance here: $CRB, AA, EEFT, EWJ
- Moderately overbought now: $GOLD, $USD, ABX
- Overbought: AEM
- Toppy here: $GOLD
- A break out in either direction is on the way for: AVAV
- 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