- YI: +5
- A possible bottom may be forming in this area for: RT
- Trying to bottom out: BLG, CHC, and NG
- Standard oversold: TZOO
- Moderately oversold: CDE, EWJ, and SIFY
- Trying to hold some rising trend line support: CSTR, ERIC, GOOG, LSI, RIO, TASR, and THQI
- Attempting to hold the 28 DMA here: AAUK and HIT
- Trying to break above some falling trend line resistance: AMD, AMTD, FRO, IFN, MSCC, MTH, OCR, OGE and TKR
- Up against some rising trend line resistance: QLGC
- Moderately overbought now: ARM, BPOP, IDA, and STP
- Standard overbought: CAT, CHK, DO, GLW, IBM, NSM, NST, QCOM, SKS, SMH, and the XCI index.
- Extremely overbought: The DJ-30, DVY, QQQQ, the S&P-500, SUN, snd WHR
- A possible top may be forming in this area for: JOSB
- Toppy here: EMC, EWG, LUFK, PDE, USU, WOR, and XLP
- Probable top here for: PLL and SGP
- To a sell: IDU
- A break out in either direction is on the way for: EWU, JCP, and KEP
- 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.
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