- YI: -0.5
- Probable bottom here for: ARM
- Trying to bottom out now: ERF and WIRE
- Extremely oversold: RT
- Standard oversold: DELL and GE
- Moderately oversold: GG
- Trying to hold horizontal trend line support: FTO
- Trying to hold falling trend line support: KEY, PDS, SUN, TSS, and VFC
- Attempting to hold the 28 DMA here: CDE, FRO, and NOK
- Trying to break above some falling trend line resistance: AIG, CAT, CLF, CSTR, DVY, GF, IBM, the IIX index, IRF, LUFK, MMC, MSCC, NSM, PLT, QQQQ, TTH, WB, and XSLV
- Attempting to break above the 28 DMA here: AIG, ASA, JWN, OKE, SYY, and WOR
- Now up against rising trend line resistance: GLD, HON, and IDA
- Moderately overbought now: ALEX, CY, EJ, ELN, OGE, TASR, and XPLT
- Extremely overbought: PEG
- A break out in either direction is on the way for: BPOP, OXY, and WTS
- 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