- Yi: +6.6
- A probable bottom here for: $USD
- Extremely oversold: GMR
- Standard oversold: BAC
- Moderately oversold: KBE
- Trying to hold some rising trendline support here: AA, EEFT, FRO
- Attempting to hold the 65 DMA here: C
- Moderately overbought now: $DJX-weekly, BGS, CREE, IP
- Overbought: $IIX
- Extremely overbought: AQA.TO, GPC, IWM
- Toppy here: $NYA50R, $PLAT, $XOI, A
- A possible top here for the: $DJW and FCX
- A probable top here for the: $CRB and $GOLD
- Going parabolic: AAPL and GOOG
- A break out in either direction is on the way for: CBZ and ELY
- 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