- Yi: +3.7
- HD and UNG are attempting to bottom out in this area.
- $COPPER is attempting to hold the 65 DMA here.
- $PLAT is up against the 65 day.
- GBTC is moderately overbought.
- CAFE is possibly forming a top here.
- Anything posted 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