- Yi: +11.05
- BBBY and FLR are possibly forming a bottom in this area.
- $DJTENG, DNB, PETX and RYE are attempting to bottom out.
- JPM is oversold.
- BAC, CHK, CALM, DB, DM, EROS and LOW are moderately oversold.
- CALM and CC are trying to hold rising trend line support.
- JACK and PG are moderately overbought.
- COST and GBTC are overbought.
- AMAT, MTSI, SMH and TSLA are getting toppy.
- ABX, AEM, CAKE, GDX and SNAP are setting up to break out either up or down.
- 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