- YI: +4.5
- Trying to bottom out now: IRF, MDT, MRVL, and STP
- Standard oversold now: KMX
- Moderately oversold: ALEX and CMI
- Trying to hold some rising trend line support: ARM, CFC, the DRG index, EWU, KEY, NOK, and PEG
- Trying to break above some falling trend line resistance: AEM, the BTK index, CDE, JNJ, SLV, TZOO, and WY
- Attempting to break above the 28 DMA here: BMS and XMSR
- Now up against some rising trend line resistance: AMAT, BKS, FTO, FXE, IWM, LUFK, QQQQ, RGLD, SLE, SMTC, the S&P-500, and XLU
- Moderately overbought now: APPB, BAA, CSL, GE, heating oil, and MSCC
- Standard overbought: CGI, COP, EMC, the IIX index, PBY, Q, and QCOM
- Extremely overbought: MRK, the OEX index, and WMB
- A possible top may be forming in this area for: FTO and RIG
- Toppy here: AMN, BA, BHI, CHK, DVY, FRO, PTEN, SU, USU, XLE, the XNG index, and the XOI index.
- Probable top here for: ERF
- To a sell: GR and XLB
- A break out in either direction is on the way for: RFMD
- 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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