- YI: -1
- Moderately oversold now: RGLD
- Trying to hold some rising trend line support: ADP, BA, CAT, CSL, HON, KFT, and the S&P-500.
- Trying to hold falling trend line support: ALEX, BAC, CBK, JNJ, TOT, and WHR
- Trying to break above some falling trend line resistance: AAPL, ASA, and GG
- Attempting to break above the 28 DMA here: ERF
- Moderately overbought now: NAT and V
- 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