- LOW, PHI and SPWR are forming a possible bottom.
- CEF, CSIQ and EGPT are trying to bottom out in this area.
- CMG and $GOLD are moderately oversold.
- BAC is attempting to hold the 28 day moving average.
- COPX is up against falling trend line resistance.
- Z is up against the 65 day moving average.
- AVP, CLF, CREE and PEG are up against the 28 day.
- GDDY, IDA, MED and XON are moderately overbought.
- NTES is toppy here.
- CSCO, DBC, $DJGSP, DUST, GDX, JNUG and $XAU are setting up to break out either up or down.
- 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