- Yi: +8.2, +8.1, +7.85
- Extremely oversold: FB and TSL
- Moderately oversold: FAZ and QID
- Trying to hold some rising trendline support: MOS
- Attempting to hold the 65 DMA here: EXP and UUP
- Up against some rising trendline resistance: $XOI
- Up against the 65 DMA: $SILVER, $XAU, B, C, EWJ, FCX, SEE, SWC
- Up against some falling trendline resistance: $XAU, $DJGSP, ABX, AMAT
- Moderately overbought: $CRB, $DJW, $DJZ, $GOLD, $IIX, $NYA50R, $OEX, $SPX, $XOI. BGS, CHK, CTB, DDM, DVY, EWA, GF, IFN, IYY, MMC, PAYX, PHI, PRBLX, QCOM, QLD, QQQ, STX, XLU, XOP
- Average overbought: AEM, DPS, GOOG, MED, PEP, WDC
- Toppy here: AEM, AKAM, DPS, QCOM
- 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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