- Trying to bottom out in this area: MRVL, the OEX index, PAYX, PTR, ROK, SMTC, the S&P-500, and SUN
- Extremely oversold: NSM and TZOO
- Standard oversold: OXY, REDF, RGLD, STP, and the XOI index.
- Moderately oversold: MER, MFE, NOK, NST, OKE, PCU, RMBS, RNR, TASR, TTH, UGP, WY, X, XLF, XLU, and YUM
- Trying to hold falling trend line support: MEOH, MSCC, RNR, RYL, TCK, and WDC
- Attempting to hold the 28 DMA: KEY, RYL, TCK, and WDC
- Trying to break above some falling trend line resistance: LUFK, PG, SKS, and SNE
- Attempting to break above the 28 DMA: MCD
- Up against rising trend line resistance: VFC
- 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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