- Yi: +8.7, +8.6
- Now trying to bottom out: AAUKY and CLF, FB, HPQ, NFLX, X
- Extremely oversold: DM, FB, TSL
- Average oversold: AAUKY, ACH, CLF, DUST, SHI, ZSL
- Moderately oversold: $USD, ATI, CAT, EWJ, FXI, GPC, NFLX, PEG, XLU
- Attempting to hold the 65 DMA here: ARMH, ELY, GLW, IDA, NOK, PGH, PTEN, QCLN, XLB
- Attempting to hold the 28 DMA here: $DJW, $IIX, $OEX, $SPX, BLL, F, GF, JDSU, JPM, LMT, MED, ROK, SCHV, SHLD
- Up against the 65 DMA here: GLD, MM, SWK
- Moderately overbought: $XAU, ABX, AEM, AXP, COST, CSL, EGO, GDX, GG, JCP, LOW, MBI, NUGT, PHI, RJZ, SFD, TSLA
- Average overbought: $GOLD, $SILVER, AGQ, DGP, EGPT, EXP, GLW, SLV, SLW
- Toppy here: GOOG and WY
- A break out in either direction is on the way for: AA, AKAM, C, CHK, DVY, EEFT, GM
- Anything posted here may be off base, and there may be some more opinions later today.
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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