- YI: +5
- A possible bottom may be forming in this area for: LSI and TZOO
- Trying to hold some rising trend line support: EWD, IIT, RGA, and WY
- Trying to break above horizontal trend line resistance: KEA
- Trying to hold falling trend line support: HMC
- Attempting to hold the 28 DMA here: ACAS, NFI, and PHG
- Trying to break above some falling trend line resistance: ASA, COP, GNSS, GOOG, IFN, JOSB, JWN, RGLD, SHI, and X
- Attempting to break above the 28 DMA here: GYMB
- Now up against some rising trend line resistance: AAUK, EWC, NST, PDA, RIO, TTH, and WNG
- Moderately overbought at this point: CAKE, CSCO, EXP, KEP, NVLS, ROK, and SYMC
- Standard overbought: TKR
- Extremely overbought: JNPR and RIG
- A possible top may be forming in this area for: BKC
- Toppy here: GE, HPQ, and MCD
- Probable top in place for: EWQ
- A break out in either direction is on the way for: SBUX
- To no position for now: CLF and the XAU index.
- 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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