- Yi: +5.36 (And of course, according to the "Yi", the market is overbought once again.)
- Moderately oversold: BPZ
- Trying to hold some rising trendline support here: $XAU, ABX, KGC, PHI
- Now trying to hold the 65 DMA: EGO
- Up against rising trendline resistance: ACH, EWJ, NWL, PRBLX
- Up against falling trendline resistance: AVAV, CLF, CSL, ENER
- Now up against the 65 DMA: $WTIC, AMAT, BBT, DELL
- Moderately overbought here: AXP, CAKE, DM, ELN, LEN, LOW, MOT, PAYX, PBW
- Extremely overbought: $USD
- Standard overbought: $DJW, $DJX, $OEX, $SPX, A, LDK
- Extremely overbought now: $GOLD, $IIX, USD
- Toppy here: $CRB, $NYA-50R, $PLAT, ARM, DDM, JASO, QCOM
- A possible top here for: CAT, FCX, GOOG
- 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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