- Yi: +1.4
- Trying to bottom out: $BDI, $COPPER, $GOLD, AVP, CEF, CORN, DYN, EWA, MTH
- Extremely oversold: $GOLD
- Oversold: $SILVER, AAUKY, BMY, CORN, DYN, EGPT, HSY, JCP, M
- Moderately oversold: $WTIC, COPX, CU, CVS, DBC, DBO, EFV, EWI, FEU, FNDF, GF, JWN, LPL
- Attempting to hold the 65 DMA here: $SPX, $XOI, AIG, AVAV, CAT, GPC, MMC
- Attempting to hold the 28 day: $DJW, BLL, COH, COST, CTB, DVY, GT, GXC, INTC, MKC
- Up against the 28 day: $VIX
- Up against the 65 day: NAT
- Moderately overbought: $UST30Y
- Toppy: CNK
- A break out in either direction is on the way for: ACH and I
- 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