- YI: +5
- Trying to bottom out: MTU
- Moderately oversold: CBK and IBM
- Trying to hold some rising trend line support: AMAT, EXP, F, LMT, MFE, NWL, and TZOO
- Trying to hold falling trend line support: CDE, STMP, and XMSR
- Attempting to hold the 28 DMA here: AA, AEM, CLG, EBAY, ENER, EOG, GG, KGC, OGE, SFY, SUN, and the XAU index.
- Trying to break above some falling trend line resistance: INTU, IRF, QCOM, RFMD, SBUX, and TIE
- Attempting to break above the 28 DMA here: SPC
- Now up against some rising trend line resistance: BMS
- Moderately overbought: ACF, AIG, BKX, CFC, NSM, PMCS, SMH, WB, and XLE
- Standard overbought: CAT, GGB, LRW, MER, MMC, WHR, and XLK
- Extremely overbought: EWD, SGP, and SVU
- Toppy here: EMC, FXE, JPM, KO, MCD, NOK, NSC, and WOR
- A break out in either direction is on the way for: FRO
- To no position for now: CFC
- 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