- YI: +1
- Extremely oversold: GM
- Standard oversold: MDC
- Moderately oversold: HON, JNJ, MKC, and PHI
- Trying to hold some rising trend line support: AAUK, ALEX, ARM, BMY, EWJ, EXP, HMC, KEY, LEN, NAT, QQQQ, V, and XMSR
- Trying to hold falling trend line support: TLB and XLF
- Attempting to hold the 28 DMA here: FCX, IIX, and UGP
- Trying to break above some falling trend line resistance: BGF and MEOH
- Attempting to break above the 28 DMA here: KO and PEP
- A break out either way is on the way for: SUN
- 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