- Yi: +1.46
- A possible bottom here for: ELN, MSFT, WFC
- Trying to bottom out in this area: SEED
- Extremely oversold: FUQI
- Now moderately oversold: BGS and CNK
- Trying to hold rising trendline support: RGLD
- Trying to hold falling trendline support: AVAV and COGO
- Up against falling trendline resistance: FSLR, IBM, NST, SU
- Up against the 65 DMA here: ENER and WFR
- Moderately overbought: GG and KGC
- Toppy here: $XAU, ASA, GG
- A possible top is in place for: ABX, GDX, SLW
- 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