- Yi: +10, +10, +9.6, +9.8
- A possible bottom here for: TSL
- Now trying to bottom out: NTES, UUP, ZNGA, ZSL
- Average oversold: $USD, DUST, FAZ
- Trying to hold some rising trendline support: QQQ
- Attempting to hold the 65 DMA here: HOGS, NAT, STX
- Attempting to hold the 28 day: MMC and WFC
- Up against the 28 day: DM
- Up against the 65 day: A and EWJ
- Up against some falling trendline resistance here: $DJW-weekly and ARMH
- Moderately overbought now: $DJW-weekly, $DJX, $GOLD-weekly, $IIX, BBT, BLL, C, DDM, F, GLW, GM, KBE, OCR, RJZ, SU, V, VFC, WOR, WSO
- Average overbought: $DJGSP, $DJW, $GOLD, $NYA50R, $OEX, $PLAT, $SILVER, $SPX, $XAU, ABX, AEM, AGQ, CAKE, COST, CTB, DGP, EGO, EWI, EXP, FCX, GDX, GG, GLD, IWM, IYY, MBI, NUGT, PG, PGM, PHI, PRBLX-weekly, SCHB, SCHC, SLV, SNDK, XOP
- Toppy here: CTB, GOOG, IWM, MBI, SLW, XOP
- A break out in either direction is on the way for: RJA
- Anything posted here may be off base, and there may be 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.
No comments:
Post a Comment