- YI: +0.5
- Trying to bottom out in this area: ACAS, MOT, NWL, and WHR
- Moderately oversold now: NLY and PLT
- Attempting to hold the 28 DMA here: MEOH, PG, and SVU
- Trying to break above some falling trend line resistance: IFN, KFT, MEOH, RT, and XPLT
- Attempting to break above the 28 DMA here: TICC and XSLV
- Up against rising trend line resistance: ERF
- 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.
No comments:
Post a Comment