- Yi: -0.9
- Trying to bottom out: JDST and PYPL
- Oversold: MOS, PTEN, STX
- Moderately oversold: $USD, EWJ, FNDF, HPQ, IP, NUS, RJR
- Trying to hold the 65 DMA here: $BDI-weekly chart, $BPSPX, CORN, EWA
- Trying to hold the 28 day: FCX, GE, TSL
- Up against the 28 day: $SPX50R, GG
- Moderately overbought: $BPSPX, AA, AEM, AU, BMY, CEF, IDA, NAT, PEGI, SIVR, SLV, UGLD, XON, Z
- A break out in either direction is on the way for: ACH, COH, DBC, DIS, GDDY, RJI, SPWR, SYY, VOX, WFM, ZNGA
- Anything posted here may be way 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