- Yi: +7.25
- A possible bottom here for: $DJGSP
- Now attempting to bottom out: $GOLD, $IIX, A, AA, AAUKY, ACH, AEM, ARMH, AVP, CAT, CLF, CREE, CSCO, EGO, F, FCX, FXI, GDX, GG, JCP
- Average oversold: CLF, F, GLW, MM, SWK
- Moderately oversold: $DJW, AA, AAUKY, AMAT, CSCO, EGO, ELY, FCX, HSH, IRF, RAIL
- Attempting to hold the 65 DMA here: AXP
- Attempting to hold the 28 day: CHK, CTB, EWJ, FB
- Now up against the 65 day moving average: $GASO, KBE, QQQ, VFC
- Up against some falling trendline resistance: QCOM
- Moderately overbought: MED, NFLX, PEG, SCHH, UGA, USB, V, WFC, WSO, XLU
- Average overbought: WOR and WY
- Toppy here: $USD and WOR
- A break out in either direction is on the way for: $GOLD-weekly, $PLAT, EEFT
- 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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