- Yi: +5.5
- Now trying to bottom out: DBC and SOYB
- Moderately oversold: ABX, CVS, NOV, $XOI
- Trying to hold rising trend line support: EROS
- Attempting to hold the 28 DMA here: AAPL and $XAU
- Up against falling trend line resistance: CSIQ
- Up against rising trend line resistance: EWA
- Toppy here: MET
- A possible top here for: CNK, CSCO, CVY
- 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