- YI: +4
- To a buy: NFI
- Trying to bottom out: DELL, GOOG, RNR, SFY, SNDK, WDC, and XMSR
- Extremely oversold: AMD
- Standard oversold: ENER, ERIC, and MU
- Moderately oversold: DO, KEP, MER, MRVL, PDE, RADN, SUN, and the XCI index.
- Trying to hold some rising trend line support: AMN, F, RDC, SPC, TSM, TSS, and the VXO
- Trying to hold falling trend line support: IFN and LSI
- Attempting to hold the 28 DMA here: EWD, GT, INTU, and the XOI index.
- Trying to break above some falling trend line resistance: ACAS, GE, KO, MRK, PD, SGP, and SWC
- Attempting to break above the 28 DMA here: MMC and MTU
- Now up against some rising trend line resistance: EWJ and SLE
- Moderately overbought now: CUP
- Standard overbought: FDP
- A break out in either direction is on the way for: BKC and GNSS
- Anything posted here could 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.
When will EWD kick off? The swedish companies behind the EWD are doing very well...
ReplyDeleteEWD is holding the 28 DMA here, so as long as that holds, there is hope.
ReplyDelete