- Yi: -1
- Now trying to bottom out: $USD
- Oversold: TSLA
- Moderately oversold: $USD and UGA
- Attempting to hold the 65 DMA here: DBC, DBO, JOY, OIL
- Attempting to hold the 28 day: NAT, USL, USO
- Moderately overbought now: $PLAT, DIS, EGPT, GOOG, XLY
- Overbought: IDA
- Toppy: MCD
- 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