- Yi: + 61.63
- Attempting to bottom out: B, IVW, LMT, $NDX, M, NYCB, OMC, SCHB, SEE, $SPX, WHR
- Oversold: BA, BITQ, MMM, NOBL, PFE, RIOT, SDY
- Moderately oversold: DD, GE, MSFT, TSLA, USB
- Trying to hold rising trend line support: TSL
- Attempting to hold the 28: $BTCUSD
- Up against the 65: ANF
- Up against falling trend line resistance: CNK
- 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