- Yi: +1.4
- Trying to bottom out: $DJGSP, $XAU, ABX, AEM, ASA, AU, CDE, FXF, GDX, GG, IAU, JNUG, MOS, NEM
- Oversold: $BDI, $COPPER, $DJGSP, FXF, JNUG
- Moderately oversold: FCX, IDA, JCP, MOS
- Attempting to hold the 28 day moving average here: CSCO, IP, MKC
- Moderately overbought: JDST and MED
- Overbought: C and JPM
- Toppy here: $NYA50R, $SPX50R, BAC, DUST, GOOG, JPM, MED, MSFT, NFLX
- A break out in either direction is on the way for: ARMH 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