- YI: -0.5, and T2118 indicates the correction may be stalling out in this area.
- Possible bottom here for: CSL and SNDK
- Trying to bottom out now: GF, LEN, MER, OKE, and SGP
- Standard oversold at this point: KMX, OCR, WOR, and XMSR
- Moderately oversold: GIS, NTES, and TTH
- Trying to hold some rising trend line support: FRO and PXD
- Trying to hold falling trend line support: AXP
- Attempting to hold the 28 DMA here: PEP and T
- Trying to break above some falling trend line resistance: AEM, ALD, AMD, CLF, EBAY, NAT, OXY, QLGC, ROK, and WSO
- Attempting to break above the 28 DMA here: AIG, BGF, FBR, FXC, MSCC, PLT, VFC, and WPL
- Moderately overbought now: CAKE, CSTR, LUFK, MKC, and PHG
- Standard overbought at this point: HON
- 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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