- YI: -1.5
- Trying to bottom out in this area: TICC
- Moderately oversold now: AIG, IDA, PHI, and WY
- Trying to hold some rising trend line support: CAT, CSL, DVY, RIO, SVU, and XSLV
- Trying to hold falling trend line support: BA, LEN, MSCC, and SEE
- Attempting to hold the 28 DMA here: C, EWU, the IIX index, MSCC, PLT, QQQQ, RT, SNA, the S&P-500, T, and UN
- Trying to break above some falling trend line resistance: FRO and OGE
- Attempting to break above the 28 DMA here: GFI and PEG
- Up against rising trend line resistance: WSO
- And as is always the case, anything posted 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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