- Yi: + 69.28
- Trying to hold some rising trend line support: $BTCUSD
- Attempting to hold the 28 DMA: ETN, RY, $USD
- Attempting to hold the 65 DMA: PFE, TD
- Up against the 28 DMA: $COFFEE, JO, TSN
- Up against some falling trend line resistance: CG
- Moderately overbought: JACK
- Overbought: DM FAST, NVS, PAYX, PEG, WEC
- Toppy: AFL, BAL, $COTTON, CSX, ETHE, FAST, FB, GIS, MMC, MRK, PAYX, PEG, TROW, XRX
- A break out either way is setting up for: JJN
- 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