- Yi: +13.5
- Trying to bottom out in this area: IRBT
- Moderately oversold: AEM, JNUG, NUGT, ORCL, SGG
- Attempting to hold rising trend line support: $XAU
- Attempting to hold the 65 DMA: HBI
- Attempting to hold the 28 DMA: GDX, GFI, $GOLD, IAU, IDA, UGLD, $XAU
- Up against the 28 DMA: GBTC and GE
- Up against the 65 DMA: RGR
- Up against rising trend line resistance: AXP
- Moderately overbought: AMTD, BA, CG, CSL, FLO, IJH, IJR, IWM, JNJ, MDY, NOV, QCLN, RAIL, TKR, TSLA, UGP, TROW, YUMC, UYG, WOR, $WTIC
- Average overbought: B, CW, $INDU, IYJ, MGA, $NYA50R, NVDA, POT, SCHD, SMH, XLNX
- Toppy here: ANF, ATI, B, CG, MMM
- A possible top here for: BWA
- A break out in either direction is on the way for: DIS, DPS, HRB, MCD, PFF, UGA
- 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