- Yi: + 49.72
- Attempting to bottom out: SPXU
- Attempting to hold the 28: BIDU
- Attempting to hold the 65: $BTCUSD, QCOM
- Up against the 65: TUP
- Up against the 28: FL, M
- Moderately overbought: F, HPQ, $INDU, LOW
- Overbought: AAPL, OMC
- Toppy: BA, CNK, COPX, FCX, GE, IVW, $NDX, SCHB, SCHX
- ABEWISUF: BITW
- 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