- YI: 0
- Trying to bottom out: JNJ
- Standard oversold: ERF and GM
- Moderately oversold: APPB
- Trying to hold some rising trend line support: JWN and NWL
- Trying to break above some falling trend line resistance: ALEX, BKX, BLG, CDE, CORS, CPB, EMC, FCX, GE, HMY, JCP, MER, MSCC, the OEX index, PTR, QLGC, the S&P-500, TMO, and the VXO
- Attempting to break above the 28 DMA here: AAUK, AEM, ASA, CGI, CSTR, EBAY, EON, GFI, GLD, KGC, PHG, and RDC
- Now up against some rising trend line resistance: ENER and IDU
- Moderately overbought now: ACAS, BA, BHP, BVN, GLW, PBY, and QCOM
- Standard overbought: PLL
- Extremely overbought: HIT
- A break out in either direction is on the way for: AMAT, LMT, NBR, PTR, and X
- 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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