- YI: 0
- Trying to hold some rising trend line support: AAPL, ACH, BMY, C, FCX, HON, the S&P-500, T and USB
- Trying to hold falling trend line support: ACAS, AVP, EBAY, GPC, MER, NWL, and WHR
- Attempting to hold the 28 DMA here: AA, AAPL, CBK, FRO, the IIX index, NAT, and QQQQ
- Up against rising trend line resistance: BGF
- Trying to break above some falling trendline resistance: LUFK and MEOH
- Attempting to break above the 28 DMA here: CY and ERF
- Standard overbought now: SNE
- A break out either way is on the way for: CAT and FNM
- 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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