- YI: +3.5
- Trying to bottom out here: AU, JWN, and YHOO
- Standard oversold: MRVL
- Moderately oversold now: ABX, ACAS, ALC, BVN, CSCO, IDU, OGE, PEG, PLT, QCOM, QLGC, SNDK, THQI, and TIE
- Trying to hold some rising trend line support: AEM, APPB, BMY, CSTR, DNR, EWU, GR, HMY, IDA, IIT, the IIX index, KEY, PDE, SGP, TIE, and WOR
- Trying to hold falling trend line support: CDE, GG, IRF, KMX, and the XAU index.
- Attempting to hold the 28 DMA here: ACF, AMD, ARM, the BTK index, the DRG index, DVY, ENR, EOG, EWA, EWI, FT, GLW, IBM, JPM, MOT, MSCC, PHG, REDF, RIO, and XLF
- Trying to break above some falling trend line resistance: CBK and GOOG
- Attempting to break above the 28 DMA here: AMAT
- Now up against some rising trend line resistance: EMC and PLL
- Moderately overbought now: FBR
- Standard overbought: BKS and CUP
- Extremely overbought: BA
- Toppy here: ELN
- A break out in either direction is on the way for: DJ
- 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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