- YI: +0.5
- Trying to bottom out: GFI and XMSR
- Moderately oversold: WY
- Trying to hold some rising trend line support: CSL, KFT, MOT, PEP, UN, and VFC
- Trying to hold falling trend line support: MMC and TSU
- Attempting to hold the 28 DMA here: OKE and TKR
- Up against rising trend line resistance: PCU
- Trying to break above some falling trend line resistance: EWJ, QQQQ, STX, SUN, and the VXO
- Attempting to break above the 28 DMA here: PG
- Moderately overbought now: WSO
- Toppy here: HMC and 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.
No comments:
Post a Comment