- Yi: + 87.65
- Attempting to bottom out: SPXU
- Moderately oversold: BIDU, $GASO
- Trying to hold rising trend line support: NYCB
- Attempting to hold the 28: AIG, COPX, GOLD, MET, SDY
- Attempting to hold the 65: AEM, C, CAT, D, DD, PG, $XAU
- Up against the 28: CSX, UUP
- Up against falling trend line resistance: CSX
- Overbought: MSFT, NTAP, QCOM, UNG
- Toppy: AFL, BITW, GLW, NTAP, QCOM, QLD, QQQ, SCHB, SCHX, $SPX, XLK
- 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