- YI: +2... So once again, the YI zero line indicated a zone of support for the market.
- Possible bottom here for: KEY, TSU, and WB
- Extremely oversold: BAC
- Standard oversold: KBE and NOK
- Moderately oversold: ACH, ASA, GLD, and PEP
- Trying to hold some rising trend line support: AAUK, AEM, SUN, and TCK
- Attempting to hold the 28 DMA here: AEM, GG, and T2118
- Up against rising trend line resistance: MSCC, NST, and TSM
- Trying to break above some falling trend line resistance: DVY, PAYX, TTH, UN, and XMSR
- Attempting to break above the 28 DMA here: NWL
- Standard overbought: GIS and HMC
- And 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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