- Yi: +6.8, +5.9, +5.8, +4.1, +4.1, +4.5, +6
- A possible bottom here for: AVP and CSCO
- Now trying to bottom out: ACH, ATI, AXP, B, BA, BBT, CAT, GOOG, JCP, SHI, STX, WDC, X
- Extremely oversold: $CRB and ANF
- Average oversold: CREE and EGPT
- Trying to hold some rising trendline support: $USD
- Attempting to hold the 65 DMA here: ZSL
- Up against the 28 DMA here: PGM and TSL
- Up against the 65 day: $DJGSP, $GOLD, $XAU, DGP, DVY, EGO, GG, GLD, MBI, NUGT, SCHH, WY
- Up against some fallimg trendline resistance: $DJX, $PLAT, $SPX, ACAS, CTB, GLD, KFT, LEN, MSFT, NFLX, RAIL, RJI, SKS, SUN, SWC, TSLA
- Moderately overbought now: $DJGSP, COST, GDX, GG, IDA, NUGT, SLW, WSO, XLU
- Average overbought: AEM
- Anything posted here could be way off base, and there may be some more opinions later.
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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