- Yi: +9, +8.4, +9.2
- Now trying to bottom out: AAPL and EGO
- Extremely oversold: $XAU and CLF
- Oversold: $GOLD, ABX, AEM, ASA, CEF, CPSL, EGO, GDX, GFI, GG, GLD, GTU, HMY, KGC, NEM, RGLD, SLV, SLW
- Moderately oversold: $CRB, $GOLD-weekly, $PLAT, AA, ACH, FCX, FXF, GM, LEN, NOK, X
- Attempting to hold the 65 DMA here: $IIX, $WTIC, BAC, CAT, EEFT, EXP, IWM, MTH, STX, TSL, WY
- Attempting to hold the 28 day: $VXO, PBW, PBY, TAN, TKR
- Up against the 65 day: LPL and PTR
- Up against falling trendline resistance: V
- Moderately overbought: CAKE, JPC, MKC, SYY
- Overbought: ACAS, B, GE, LUFK, PBCT, PEG, PEP
- Extremely overbought: UGP
- A break out in ether direction is on the way for: $BDI
- 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.
You might like to consider adding UGLD, USLV, DGLD and DSLV ETNs to your watch list.
ReplyDeleteBest,