- Yi: +16.35
- Up against the 65 DMA: BABA
- Moderately overbought: AEM, AU, BGG, BBY, EBAY, GDX, GFI, SMG, YUMC
- At the average overbought level: AMZN, GLD, IAU
- Getting toppy: GOLD and $XAU
- A break out either way is setting up for: NSC, PAYX, RY, 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