- YI: +2
- Extremely oversold: XMSR
- Moderately oversold: RHT
- Trying to hold some rising trend line support: RGLD
- Attempting to hold the 28 DMA here: TXU
- Trying to break above some falling trend line resistance: CHC, CLG, the DRG index, IBM, JNJ, MER, MFE, SCHW, TASR, TLB, and XLF
- Attempting to break above the 28 DMA here: IYR, KEP, and MTU
- Now up against some rising trend line resistance: EBAY and EWG
- Moderately overbought: AA, AVP, BBBY, BMS, CDE, CGI, CTCI, the DJ-30, ELY, GOOG, GPC, HPQ, KGC, MRK, QCOM, QQQQ, TKR, and TYC
- Standard overbought: AMZN, BKC, BVN, CUP, JNPR, and NOK
- Extremely overbought: EWP and PXD
- Toppy here: AAUK, CHK, EWA, EWU, GFI, NST, PCU, and UGP
- To no position: CLF
- 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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