- Yi: + 52.6
- Attempting to bottom out: $VIX
- Oversold: SPXU
- Moderately oversold: AFL, AIG, APD, BMY
- Trying to hold rising trend line support: UGA
- Attempting to hold the 28: AEM, DB, $GASO, NEM, UGA
- Up against rising trend line resistance: ANF, GT
- Up against falling trend line resistance: BGS, KR
- Moderately overbought: CSL, ETN, EWI, TROW, WHR
- Overbought: ACVF, BIDU
- Toppy: B
- ABEWISUF: AXP, JPM
- 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.
What does ABEWISUP mean?
ReplyDeleteWhat does ABEWISUP mean? Thanks for your efforts each day in sharing this blog.
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