- YI: 0 (And as we can see once again, the YI zero line has provided an area of resistance in another rally attempt.)
- Trying to hold some rising trend line support: EBAY
- Now trying to break above some falling trend line resistance: AAPL, AMD, HON, PTR, and UGP
- Attempting to break above the 28 DMA here: NST, PG, RNR, SGP, SHI, UN, and WB
- Up against rising trend line resistance: ASA, ERF, OXY, SNA, TCK, and WSO
- Moderately overbought now: BGF, the DJ-30, EWU, FXC, GF, HMC, KO, NSC, SNE, and the VXO
- Standard overbought: BHP, PLL, and WHR
- Extremely overbought now: GG and PDS
- Toppy here: PLL and the XOI index.
- Going parabolic: (usually a bearish sign) GG and XSLV
- A break out in either direction is on the way for: PEP
- 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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