- YI: +4
- Moderately oversold now: AVP, CPB, KBE, and KEY
- Trying to hold some rising trend line support: AAPL, BHP, DVY, EBAY, IIX, MMC, PAYX, and PTR
- Trying to hold falling trend line support: AIG and UN
- Attempting to break above the 28 DMA here: DJ-30, JCP, and MMC
- Up against rising trend line resistance: ABX
- Trying to break above some falling trend line resistance: KO and the VXO
- Moderately overbought now: PEG, RGLD, and XLU
- Toppy here: KFT and T2118
- Going parabolic: NAT
- 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