- Yi: + 62.54
- Moderately oversold: $BTCUSD, QID
- Trying to hold some rising trend line support: BIDU, CLF
- Attempting to hold the 28: CNK
- Up against the 65: $GOLD
- Up against the 28: AEM, AMZN, GDX, MET
- Moderately overbought: DD, INTC, IVW, KNDI, MSFT, $NDX, STX, TSM, TUP, XLK
- Overbought: META
- Toppy: AFL, ANF, GOOG, META, RGR
- ABEWISUF: ORCL, $XOI
- 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