- Yi: -2.5
- A possible bottom here for: NUS
- Oversold: EBAY
- Up against the 28 DMA here: $WTIC, $XOI, CMG, DBC, DBO
- Up against the 65 day: $CRB, $GASO, CAT
- Moderately overbought: $COPPER, FB, IDA, MCD, MKC, MTH
- Toppy: $GOLD
- A break out in either direction is on the way for: M
- 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