- Yi: +18.2
- Trying to bottom out: CHT, IAU, S, UGLD
- Average oversold: AU and NTES
- Moderately oversold: AMAT, GBTC, JACK, JWN, MKC, NUGT, WEC
- Trying to hold rising trend line support: CSCO and GDX
- Trying to hold falling trend line support: GFI and PPLT
- Up against the 28 DMA here: HA
- Up against the 65 DMA here: HAS and HBI
- Up against falling trend line resistance: GM and SNA
- Moderately overbought: B, BWA, CC, CHK, EYE, FCX, GE, GPC, JJNTF, M, MDY, MET, MOS, WHR, WOR, WSO, XLB
- Average overbought: IJR, IYE, RYE, TKR
- Toppy here: CLF, CREE, DBO, DFS, IWM, M, NUS, OILU, PAG, USO
- A break out up or down is on the way for: $COPPER, CW, EBAY, FEU, FNDF, FNG, GG, HPE, HPQ, LMT, MBI, SBUX, VOX
- 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