- Yi: +5.9
- Trying to bottom out: $PLAT, ACH, CHK, GDX, GFI, GG, GLW, HSY, IDA, PMPIX, UGLD
- Oversold: $NYA50R, ABX, ASA, AU, EGO, LPL, NUGT
- Moderately oversold: $DJW, $GOLD, AEM, AUQ, BA, BGS, COST, CWI, DVY, F, FXI, HPQ, JNUG, PEP, SCHH, SLW
- Trying to hold the 65 DMA here: MED, MKC, NOK, PTEN
- Trying to hold the 28 day: GM and PEGI
- Moderately overbought: $VIX, DUST, ZNGA
- Overbought: BAC
- A break out is on the way for: CDE, GE, GXC, JCP, RGLD, USB
- 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.
No comments:
Post a Comment