- Yi: +23.15
- Trying to bottom out: AMAT, HBI, $UST30Y
- Moderately oversold: CORN and PM
- Attempting to hold the 65 DMA: MAIN
- Attempting to hold the 28 DMA: MBI
- Up against the 28 DMA: GLD, IAU, UGLD
- Up against falling trend line resistance: MU
- Moderately overbought: DBO, FNG, GDDY, IQV, JNPR, MSI, NDAQ, NIB, NOW, NTAP, OILNF, PAYX, PYPL, STX, TXN, USL, V, VOT
- At the average overbought level: MDY, MJ, NVDA, SFIX
- Getting toppy: SYY
- Anything posted on these pages 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