- YI: +5
- Trying to hold some rising trend line support: BKS
- Trying to break above falling trend line resistance: ALC, CSL, GG, IDA, JNJ, KEY, MRVL, MSCC, OGE, SNA, SPC, and SYY
- Attempting to break above the 28 DMA here: ALC, BGF, HIT, IDU, KMX, SWC, and TLB
- Now up against some rising trend line resistance: ADP, the DJ-30, and DVY
- Moderately overbought now: AEM, ALEX, AMN, CBK, CHC, CSCO, EWK, NG, TICC, and WDC
- Standard overbought: AIG, AMTD, DELL, GOOG, IWM, JOSB, PXD, RHT, SCHW, and TKR
- Extremely overbought: CLF
- A possible top may be forming in this area for: The IIX index, MFE, and PBY
- Toppy here: AAUK, the BTK index, CMC, FCX, PLL, QQQQ, and RDC
- To a sell: AAPL
- A break out in either direction is on the way for: ERIC
- 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.
No comments:
Post a Comment