- Yi: +5.9
- A possible bottom here for: $GOLD, $XAU, AGQ
- Now trying to bottom out: $DJGSP, $GOLD-weekly, $SILVER, ABX, C, CAT, CREE, DELL, ELN, EWJ, F, GLW, IRF
- Extremely oversold: DM and HPQ
- Average oversold: A, AUUKY, ABX, ACH, CSCO, DELL, ELN, F, GLW, GM, HSH
- Moderately oversold: $DJW, $DJX, $IIX, $PLAT, AA, AKAM, ATI, B, CAKE, CSL, FCX, IWM
- Trying to hold some rising trendline support: $BDI-weekly
- Attempting to hold the 65 DMA here: $OEX, $XOI, ACAS, CNK, CTB, EGPT, EXP
- Attempting to hold the 28 day: BMY, DPS, DUST
- Up against the 65 day: $VIX
- Up against some falling trendline resistance: EGO
- Moderately overbought now: $USD
- Average overbought: BGS
- Toppy here: $USD
- Anything posted here may be 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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