- YI: +3.5
- Extremely oversold here: GLD
- Trying to hold some rising trend line support: ADP
- Trying to hold falling trend line support: The VXO
- Attempting to hold the 28 DMA here: CY and FCX
- Now up against rising trend line resistance: C, HMC, HON, RIO, and T
- Trying to break above some falling trend line resistance: BAC, the DJ-30, EXP, MDC, OGE, OKE, the S&P-500, SYY, T, UN, and WHR
- Moderately overbought now: AIG, BAC, DVY, IDA, KEY, KFT, OGE, RT, and WOR
- Standard overbought: ARM, CPB, IFN, IWM, MCD, QQQQ, and TTH
- Extremely overbought: TKR
- Toppy here: EWJ, GOOG, KBE, PAYX, QCOM, SNE, STMP, V, and XLF
- Going parabolic: GGB
- A break out either way is on the way for: TLB
- 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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