- Yi: +6.9, +6.15
- A possible bottom here for: GG
- Now attempting to bottom out: $XAU, ABX, AGQ, AKAM, AU, AUQ, BGM, HSH, INTC, MSFT, NUGT, PBW, PGH, PTEN, PTR, ROK, SFD, SLV, SLW
- Average oversold: $XAU, A, ABX, CAT, CREE, DM, GDX, GG, GLD, GM, NUGT, PGH, PTR, ROK
- Moderately oversold: $DJGSP, $DJX, $GOLD, $IIX, $SILVER, AA, ACH, AEM, AGQ, AKAM, ARMH. AU, AUQ, B. DDM, DGP, GLD, GOOG, HSH, INTC, LOW, MSFT, NAT, NTES, PBW, PTEN, QCLN, QCOM, RJZ, SEE, SFD, SHLD, SLV, SLW
- Trying to hold some rising trendline resistance: EWI and LMT
- Attempting to hold the 65 DMA here: CSL, ELN, IWM, NCR, SKS
- Attempting to hold the 28 day: $DJW, $OEX, $SPX, ATI, MMC
- Up against falling trendline resistance: MBI
- Moderately overbought: DUST, HOGS, PG, PRBLX-weekly
- A break out in either direction is on the way for: BBT and IFN
- 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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