- YI: +2.5
- Moderately oversold now: EBAY, GE, and PEG
- Trying to hold some rising trend line support: AAPL, ACH, EWJ, IWM, IYG, NYB, OGE, PCU, PG, QQQQ, and TOT
- Trying to hold falling trend line support: CBK, PEP, SEE, STMP, TSM, and WHR
- Attempting to hold the 28 DMA here: ALEX, BPOP, DVY, EWI, GM, HON, JNJ, KEY, MER, PAYX, T, WB, and XLU
- Up against rising trend line resistance: BHP, GF, UGP, and WOR
- Attempting to break above the 28 DMA here: PLL
- 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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