- YI: +2
- To a buy: AMTD, BLG, and CFC
- A possible bottom may be forming in this area for: JNJ
- Trying to bottom out: MOT, MTH, RYL, and TOL
- Moderately oversold: SMTC and SYMC
- Trying to hold some rising trend line support: WB and WON
- Trying to hold falling trend line support: AMD
- Attempting to hold the 28 DMA here: PHG
- Trying to break above some falling trend line resistance: AIG, AMN, AU, BKX, CAKE, DVY, GM, IRF, MCD, NG, VZ, and WDC
- Now up against rising trend line resistance: EMC, EWA, F, GNSS, GR, and JCP
- Moderately overbought now: EMC, GFI, and JWN
- Standard overbought: ADP, ALEX, and ASA
- Extremely overbought: IDU
- Toppy here: EON, EWI, and SKS
- To a sell: CLF and PEG
- A break out in either direction is on theway for: BPOP
- Anything posted here may 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