YI: +2.5
Possible bottom here: EBAY
Trying to bottom out: AMD, ASA, N, NEM, RIO, and the XAU index.
Standard oversold: ABX, AMAT, CGI, GOOG, and NVLS
Moderately oversold: NLY, SPIR, STP, STX, WTS, and the XCI index.
Now attempting to hold some rising trend line support: AMN, CBK, DELL, FXE, GRZ, PMCS, and the 4Q
Attempting to break above horizontal trend line resistance: C
Attempting to hold the 28 day moving average: CAT, CSTR, and RMBS
Trying to break above some rising trend line resistance: BBBY, IBM, PHG, and TZOO
Now up against some rising trend line resistance: TMO
Standard overbought at this point: SPC
Anything posted here 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.
Yogi,
ReplyDeleteNice charts. It is encouraging to see that many of the PM stocks are trying to find bottom at here. I'll have to rely on your analysis more often because I have less and less time to watch stocks. Thanks.
Wade
Thank you Wade. What is my salary? (VBG)
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