- +3.5
- Trying to hold falling trend line support: JCP
- Attempting to hold the 28 DMA: WDC
- Trying to break above some falling trend line resistance: ASA, the BKX index, DJ, ENER, HMY, KGC, LRW, MU, NBR, NEM, OCR, and XMSR
- Trying to break above horizontal trend line resistance: AIG
- Attempting to break above the 28 DMA here: The BTK index, CDE, CMC, IRF, OKE, Q, SLV, WB, WOR, and YHOO
- Up against rising trend line resistance: EWA, GE, GLD, PDA, and PDE
- Moderately overbought now: AEM, AMAT, CSCO, CY, ERIC, F, HMC, KEP, LUFK, OMN, PEG, PHG, SMH, and the XAU index.
- Standard overbought: BMY, CSL, EOG, and GM
- Extremely overbought: AA, AAUK, DO, and LYO
- A possible top may be forming here for: BKC, COP, the DJ-30, and PTR
- Toppy now: EEM, ELN, EON, EWC, EWG, EWQ, FRO, GE, GLW, IBM, the IIX index, IWM, IYM, NX, the OEX index, OXY, PXD, RDC, RIO, RNR, the S&P-500, SUN, TASR, TCK, WMB, XLB, XLE, XLK, the XNG index, and the XOI index.
- Anything here could 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