- Yi: + 48.83
- Attempting to bottom out: CORN
- Moderately oversold: B, FCX
- Trying to hold some falling trend line support: CAKE
- Attempting to hold the 28: AIG, BITQ, EWA, RIOT, SCHB, WGMI, $XAU
- Attempting to hold the 65: AEM, AFL, SEE, SIVR, UYG, $XOI
- Up against some falling trend line resistance: ETN
- ABEWISUF: $BTCUSD, D, GDX, ROK
- Toppy: APD, CMG, CNK, GFI, MTH, NOBL, $UST3M, VGK
- 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