- YI: +4.5
- To a buy: BLG and CORS
- A possible bottom may be forming in this area for: STMP
- Trying to bottom out: ENER, NEM, and PNRA
- Standard oversold: IYR
- Moderately oversold: AMAT, FXY, and STP
- Trying to hold some rising trend line support: AIG, EMC, IYR, OGE, and TMO
- Trying to hold falling trendline support: FXB and KMX
- Attempting to hold the 28 DMA here: KO, LMT, PDS, and SMH
- Trying to break above some falling trend line resistance: AAUK, ASA, BAA, ENR, MOT, MSCC, NTES, RHT, SBUX, and XMSR
- Attempting to break above the 28 DMA here: SIFY and TOL
- Up against some rising trend line resistance: DVY, EON, MER, and QQQQ
- Moderately overbought: BKS, CPB, GE, INTU, JNJ, OCR, SCHW, and TSS
- Standard overbought: BHI, CHK, ELN, PTEN, RDC, and XLP
- Extremely overbought: DO, FTO, FXC, IBM, IDU, MFE, OXY, XLE, and the XOI index.
- A possible top may be forming in this area for: PDE
- Toppy here: C
- Probable top in this area for: IYM
- A break out in either direction is on the way for: ERS
- Anything 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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