- Yi: + 81.9
- Attempting to bottom out: BIDU, UUP
- Trying to hold some rising trend line support: ANF, CAT, $SPX
- Attempting to hold the 28: AMZN, META
- Attempting to hold the 65: CMG, INTC, IVW, $NDX, QQQ, STX, XLK
- Up against the 65: WBD
- Up against the 28: GT
- Up against some falling trend line resistance: GIS, GOOG
- Moderately overbought: $NYA50R, TAP
- Toppy: B, CAT, GE, $GOLD, $HGX, SCHB, VGK
- Going parabolic: GBTC, LIN
- ABEWISUF: CNK, CSX, GLW
- 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