- YI: +3.5
- A possible bottom may be forming here for: GFI and RMBS
- Trying to bottom out now: AU, KGC, MCRS, OGE, and RGLD
- Standard oversold: FXY and USU
- Moderately oversold: BKS, CORS, NTES and SPC
- Trying to hold some rising trend line support: CUP, ERF, and SGP
- Trying to hold falling trend line support: IYR and WON
- Attempting to hold the 28 DMA here: EXP and FDP
- Trying to break above some falling trend line resistance: APPB, ENR, EWI, GG, HMC, HPQ, INTU, JNJ, JWN, MEOH, MTH, PDA, PDS, PEG, PLT, RHT, SWC, WTS, and WY
- Attempting to break above the 28 DMA here: The BKX index, BMY, C, GRZ, IIT, KEY, and QCOM
- Now up against rising trend line resistance: CAT, EBAY, GLW, PXD, and SFY
- Moderately overbought: BVN
- Standard overbought: MCD
- Extremely overbought: AMN
- A possible top may be forming in this area for: BHP and JNPR
- Toppy here: FCX, JOSB, PCU, and PLL
- A break out in either direction is on the way for: CGI and SHI
- 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.
Hi. Just wanted to give you kudos on the work doing the analysis on your blog. Would you be interested in doing a link exchange?
ReplyDeleteThank you very much, and a link exchange would be fine with me.
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