- YI: +4
- Trying to bottom out in this area: JNJ and QLGC
- Extremely oversold now: NFI and SNDK
- Standard oversold: IDA
- Moderately oversold: ACF, KEP, MDC, and MDT
- Trying to hold some rising trend line support: AIG, CY, the DRG index, IWM, LMT, MER, NSC, the OEX index, and T2104
- Trying to hold falling trend line support: GE
- Attempting to hold the 28 DMA here: The BKX index, the BTK index, the DJ-30, IYR, JCP, JWN, and SKS
- Trying to break above some falling trend line resistance: AMD, CDE, EBAY, MOT, PHG, and PMCS
- Now up against some rising trend line resistance: ADP
- Moderately overbought now: ALD, GFI, Heating Oil, PNRA, SUN, WDC, XLE, and the XOI index.
- Standard overbought: MFE, RFMD, STX, TXU, USU, and YHOO
- Extremely overbought: IDU, MCRS, PCU, and PEG
- Toppy here: AAUK, EWJ, GPC, LYO, SMTC, TIE, and TZOO
- To a sell: XLU
- A break out in either direction is on the way for: HIT and PTR
- To no position for now: WY
- 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.
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