- YI: +2.5
- Trying to bottom out: XMSR
- Trying to hold some rising trend line support: BMY, EXP, and HON
- Trying to hold falling trend line support: TLB
- Trying to break above some falling trend line resistance: AAUK, AIG, AXP, BGF, CSL, EEM, ERIC, FTO, GOOG, GT, the IIX index, LEN, the OEX index, OKE, PCU, PDS, PEG, PTR, QCOM, RIO, ROK, SUN, and TSU
- Attempting to break above the 28 DMA here: ACH, ADP, AMAT, BHP, EEFT, KEY, KFT, NSM, NWL, PBY, SVU, SYY, TCK, and UGP
- Up against rising trend line resistance: IDA, MEOH, and NLY
- Moderately overbought now: The DJ-30, EBAY, FXC, IRF, PLT, and the S&P-500.
- Standard overbought: OXY
- Extremely overbought: SOLF
- Toppy here: AAPL, MPG, PHI, and STP
- A break out in either direction is on the way for: CPB and SMTC
- 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.
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