- Yi: +10.45
- GG, $NDX and PAYX are moderately oversold.
- DYN, GOOG, JCP and SHAK are up against the 28 DMA.
- $COPPER, EBAY, NAT, UGA and XLE are up against falling trend line resistance.
- EWA is up against falling trend line resistance.
- FB, $GASO, NOV, QLD, RYE and ZNGA are moderately overbought.
- LPL is at the average overbought level.
- GF and MDLOX are toppy here.
- HAS, HD and V are setting up to break out either up or down.
- 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