- Yi: +2.7
- Now trying to bottom out: $BPSPX, CAKE, CDE, EROS, GFI, MTH, P, Q, TSLA
- Oversold: GG
- Moderately oversold: $GOLD, $XAU, CDE, CVS, GDX, IAU, JNUG, NGUT, PEG, RGLD, SLV, UGLD
- Attempting to hold the 65 DMA here: AMCC and GE
- Attempting to hold the 28 day: $FXT, $SILVER, AEM, CREE, IDA, MOS, QVCA, SLW, SYY, SYY, TSL
- Up against the 28 day: DUST, JDST, USB
- Up against the 65 day: $WTIC
- Moderately overbought: NFLX and NOK
- Overbought: $SPX
- A break out in either direction is on the way for: F, QCOM, UGP
- 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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