- Yi: +23.5
- Moderately oversold: $VIX
- Trying to hold rising trend line support: D
- Up against the 65 DMA: DIS, RY, VNO
- Up against falling trend line resistance: GILD
- Moderately overbought: ALL, BGG, ROK
- 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