- Yi: +2.8
- Trying to bottom out: $UST30Y
- Moderately oversold: AAPL, BMY, GOOG, $NDX, $PLAT
- Attempting to hold the 65 DMA here: AEM and $CRB
- Attempting to hold the 28 day: GDDY
- Up against the 28 day: GM
- Moderately overbought: CREE, HSY, TWTR
- A possible top here for: BGS
- A break out in either direction is on the way for: MED
- 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