- Yi: +10, +10
- A possible bottom here for: $VIX, JCP, QID
- Now trying to bottom out: $VXO, FAZ, NUGT
- Up against the 28 DMA here: $NYA50R, AA, ANF, MED, NCR, RJA
- Up against the 65 day: BLL and PTR
- Up against some falling trendline resistance here: $XAU
- Moderately overbought: $BDI, ATI, CHK, EFV, F, IFN, LMT, LOW, MOS, PGH, SHLD, TSLA, VGK, XLB, XOP, ZNGA
- Overbought: B, C, ONXX, WFC
- Extremely overbought: ACAS, BA, GPC
- Toppy here: DVY, EWJ, EXP, JDSU, KBE, NTES, SWK, VBR, VEU, VIS, WFC, WSO, XLF
- A possible top here for: $DJW, $DJX, $IIX, $OEX, $SPX, ACAS, AXP, C, CSCO, IP, IWM, IYY, JPM, SCHA, SCHB, SCHG, SCHX, UYG, VOT
- A break out in either direction is on the way for: $GOLD, $SILVER, CAT
- 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.
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