- Yi: +5.4
- Trying to bottom out here: JJG and WEAT
- Extremely oversold: CORN
- Moderately oversold: CTB and DBC
- Trying to hold rising trend line support: DBP, GDX, GG, MKC
- Attempting to hold the 65 DMA here: IDA
- Attempting to hold the 28 DMA here: AEM, ASA, CEF, DBP, DF, $DJGSP, GDX, $GOLD, I, IAU, JNUG, MKC, $XAU
- Up against the 65 DMA here: BWA, DUST, JDST
- Up against rising trend line resistance: AMCC
- Moderately overbought: F and GF
- At the average overbought level: CSCO and JJN
- Toppy here: AMCC, CREE, $FTSE, HPQ, JNJ, SMH
- A possible top is in place for: AAPL and $BDI
- A break out in either direction is on the way for: NOV
- 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