- Yi: +6.2
- A possible bottom may be forming here for: DYN
- Trying to bottom out here: CORN, CSIQ, $GASO
- Moderately oversold: CPER and COH
- Attempting to hold the 65 DMA here: GBTC
- Attempting to hold the 28 DMA here: CAR, CREE, DBA
- A break out in either direction is on the way for: ABX and CVS
- Anything posted here may be off base, depending on market conditions.
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