- YI: -3
- Trying to bottom out now: The DRG index and SGP
- Standard oversold: OGE and STP
- Trying to hold some rising trend line support: VXO
- Trying to hold falling trend line support: JNJ
- Trying to break above some falling trend line resistance: AAUK, AIG, ALD, AXP, C, CORS, the DJ-30, DVY, EEFT, ELY, EWD, EWI, EWJ, EWU, GIS, GOOG, GPC, GT, KFT, MEOH, MKC, NWL, PG, PHI, PNRA, QCOM, QQQQ, RT, SNDK, SYY, T, TICC, WIRE, and XLU
- Attempting to break above the 28 DMA here: ACAS, AIG, AMD, BAC, BGF, BKC, CBK, GM, QLGC, WB, WPL, WSO, and XLF
- Up against rising trend line resistance: The BKX index, MER, and WTS
- Moderately overbought now: ABX, AEM, the BKX index, BPOP, CREE, CSTR, IBM, JWN, KEY, KMX, MDC, MER, NSC, NYB, SEE, TOL, TZOO, VFC, and WHR
- Standard overbought now: RYL
- 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.
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