- Yi: +14.88
- Trying to bottom out: BAL and FAT
- Average oversold: ASA and $NYA50R
- Moderately oversold: CEF, $COPPER, $CRB, DBP, $GASO, $GOLD, $PLAT, $SILVER, SIVR, SLV, UNG
- Up against the 28 DMA: $USD
- Up against falling trend line resistance: BBBY and CAFE
- Moderately overbought: CORN and QID
- Average overbought: SNAP and TPR
- 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