- Yi: + 44.58
- Attempting to bottom out: $LUMBER
- Oversold: BITO, BTCUSD, D
- Trying to hold falling trend line support: RIOT
- Attempting to hold the 28: QID
- Attempting to hold the 65: AVAV
- Up against the 65: CC, CSX, F
- Up against the 28: PFF, QLD, QQQ, STX
- Up against falling trend line resistance: XRX
- Moderately overbought: $COTTON, $CRB, MAIN, NSC, PPC, SNA
- Overbought: EMR, GE, GS, IR, LIN, YUM
- Toppy: B, DBO, FLR, MS
- ABEWISUF: AKAM, CAKE, GM, KHC, M, MED, MJ, PFE, SCHH, YETI
- 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