- Yi: +29.09
- Trying to bottom out: $GOLD, $VIX
- Attempting to hold the 28 DMA: CRUS
- Moderately overbought: BGG, BIDU, TGS
- Average overbought: CLF, CMI, CNK, CVS, FRDM, FSLR, QCOM, SNA, SU, TKR, TRV, WY, X, XLE, $XOI
- Toppy: ATI, BA, BBBY, BWA, CWI, DE, $DJW, EFV, EWI, GF, GM, IR, MED, PTEN, REMX, SCHH, $SPX, SYY, VGK, WU
- A breakout either way is setting up for: GBTC
- 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