- Yi: +1.5, +2.4
- Attempting to hold the 65 DMA here: $VIX and DUST
- Up against the 28 day: BLL
- Up against some falling trendline resistance: $GOLD, $OEX, $XOI, CHK, DDM
- Up against the 65 DMA here: $DJX, $IIX, $OEX, $SPX, AKAM, BA, CSL
- Moderately overbought now: ARMH, AVAV, CSCO, DELL, DPS, DVY, ELN
- Overbought: BMY
- 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