- Yi: +9.34
- Standard oversold at this point: $VIX and FAZ
- Moderately oversold: GIS
- Now trying to hold some rising trendline support: BPZ
- Attempting to hold the 65 DMA here: $USD and HPQ
- Up against rising trendline resistance: $GOLD-weekly
- Up against the 28 day: GF and GOOG
- Up against falling trendline resistance: BAC and COGO
- Up against the 65 day: $HGX-weekly, ACH, EEFT, FUQI
- Moderately overbought now: $GASO-weekly, $IIX, AMAT, CBZ, CHK, FCX, GE, GLW, IFN, IP
- Standard overbought: AA, AXP, B, CSL, CTB, DM, ELY, GPC, HIT, IWM
- Extremely overbought: CAKE
- Toppy here: $CRB, $GOLD, $OEX, $SPX, $WTIC, $XAU, $XOI, AA, AAPL, AEM, AGQ, ARM, AXP, B, CAT, CSL, CTB, FCX, GE, GPC, IDA, IWM
- A possible top here for: ABX
- 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