- Yi: +10
- Now trying to bottom out: $XAU
- Standard oversold: $DJGSP, $XAU, ABX, AEM, AU
- Moderately oversold: $GOLD, ASA, AUQ, DGP, EGO, ELY
- Attempting to hold the 28 DMA here: $USD
- Up against the 28 day: ATI and CAT
- Up against the 65 day: EEFT
- Moderately overbought: $DJW-weekly, AA, AMAT, ANF, ARMH, BA, CHK, CLF, CREE, DVY, ELN, EWI, EXP
- Standard overbought: $DJW, $DJX, $HGX, $IIX, $OEX, $SPX, AXP, BBT, BLL, COST, DDM, DUST
- Extremely overbought now: AAPL
- 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.
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