- YI: +1.5
- Trying to bottom out in this area: ABX, GG, and KEP
- Moderately oversold now: MRVL and NTES
- Trying to hold some rising trend line support: GE, MOT, and XMSR
- Trying to hold falling trend line support: KEA and TOL
- Trying to break above some falling trend line resistance: MSCC and RNR
- Attempting to break above the 28 DMA here: FRO, LRW, and SWC
- Now up against some rising trend line resistance: IYR
- Moderately overbought now: IYM, Q, and STP
- Toppy here: ACAS and SNE
- A break out in either direction is on the way for: KGC
- 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.
No comments:
Post a Comment