- YI: +4
- Moderately oversold: XMSR
- Trying to hold some rising trend line support: AA, FT, REDF, SCHW, and TXU
- Attempting to hold the 28 DMA here: CORS, PG, and TMO
- Trying to break above some falling trend line resistance: ENR and TIE
- Now up against some rising trend line resistance: BKC, BMY, DNR, and WTS
- Moderately overbought: JCP
- Standard overbought here: ALD, FDP, and PHG
- Extremely overbought: BHP, BKC, and SUN
- Toppy here: ERF, EWA, FXE, GGB, GT, JNPR, NOK, OXY, RIO, WMB, and the XOI index.
- A break out in either direction is on the way for: WPL
- 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