- Yi: +9.3
- Attempting to bottom out: $CRB, $HGX, AEM
- Up against the 28 DMA here: $USD
- Up against the 65 day: AGQ
- Anything posted here may be off base.
Tuesday, May 10, 2011
Late day update for May 10, 2011.
Subscribe to:
Post Comments (Atom)
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