- Yi: +9.1
- Trying to bottom out: AEM, AXP, MED
- Standard oversold: MED
- Moderately oversold now: $USD
- Attempting to hold the 28 DMA here: SEE
- Up against the 65 DMA here: C
- Up against the 28 day: BLL, MMI, SLE
- Up against falling trendline resistance: EEFT and PEP
- Moderately overbought: BA and OCR
- Standard overbought: PTEN
- Extremely overbought: EXP
- Toppy here: $DJW-weekly
- 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