- Yi: +28.44
- Attempting to bottom out: BMY, MRK
- Attempting to hold the 65 DMA: KR, RGLD
- Attempting to hold the 28 DMA: IMBI, $SILVER, SIRI, SIVR, WYND
- A break out either way is setting up for: BGG
- 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