- Yi: +26.33
- Trying to bottom out: BGG, UNG
- Attempting to hold the 65 DMA: GOLD
- Up against the 65 DMA: TAP
- Up against rising trend line resistance: AMP, $COPPER, COPX, $COTTON, $NDX, QLD
- Up against falling trend line resistance: GBTC
- Moderately overbought: DBO, FRDM, PG, QCOM, RS, RY, TGS, TTM
- Average overbought: BBL, BWA, GDDY, GF, MGA, TXN, WU
- Getting toppy: A, D
- A break out either way on the way: CLX, CRUS
- 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