- Yi: + 47.1
- Attempting to bottom out: QID, UUP
- Oversold: SPXU
- Attempting to hold the 28: $UST30Y
- Attempting to hold the 65: ADM, LMT
- Trying to hold rising trend line support: GIS
- Up against the 65: WBD
- Up against the 28: BIDU, GT
- Moderately overbought: ACVF, AEM, BBY, BEN, $COPPER, COPX, IVW, IWM, MKC, MMM, $NDX, QQQ, $SPX, T, VOT, XLK
- Overbought: OMC, $NYA50R
- Toppy: A, AFL, B, F, SDY, VGK, VLY, YETI, YYY
- ABEWISUF: RGR, TUP
- 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