- Yi: +3.0
- Trying to bottom out: CORN and $VIX
- Up against falling trend line resistance: CVY, DIS, DM, IP, $NDX, $XOI
- Up against the 65 DMA here: AAPL, EBAY, HSNI
- Up against the 28 day: CSCO, HD, XLK
- Moderately overbought: COH, COPX, GG, $SPX
- At the average overbought level: $DJGSP, GDX, GFI, GPC, JNUG, $SILVER, $XAU
- Toppy here: $FTSE, SBUX, $SPX, TWTR, $XAU
- A possible top here for: IDA
- 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