- Yi: +0.2, +1
- Trying to bottom out: $CRB, $DJW, $DJX, $GASO, $HGX, $SILVER, $WTIC, ACAS, CREE, GLD, HOGS, NAT, NTES, RJA, RJI, RJZ, SFD, TAN, TSL, UGA
- Oversold: $CRB, $GASO, $PLAT, $SILVER, $WTIC, PHI, SLV
- Moderately oversold: $GOLD and SLW
- Attempting to hold the 28 DMA here: $GOLD-weekly
- Up against rising trendline resistance: MED
- Up against the 28 day: EWI
- Up against falling trendline resistance: BA, BAC, DELL, EWA, EWJ, GF, HCBK, RAIL
- Up against the 65 day: AVAV, ELN, WFC
- Moderately overbought: USB and V
- A bit toppy here: $USD
- 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