- YI based on EOD June 6, 2008: -0.5
- YI based on EOD June 9, 2008: 0
- Possible bottom here for: NOK and PHI
- Trying to bottom out: ACH, BA, KO, and PEP
- Standard oversold: HON, JCP, LEN, PBY, SUN, WHR, and XLF
- Moderately oversold: ALEX, CBK, EXP, GPC, the S&P-500, T, VXO, and WSO
- Trying to hold some rising trend line support: EWJ, FNM, IBM, PLL, QCOM, and SYY
- Trying to hold falling trend line support: CAT, CPB, the DJ-30, EBAY, FNM, GOOG, IYY, NWL, PTR, and THE s&p-500.
- Attempting to hold the 28 DMA here: CSL, GIS, IBM, IWM, NYB, SVU, and UGP
- Up against rising trend line resistance: GG
- Trying to break above some falling trend line resistance: AEM, GLD, PDS, RGLD, and XPLT
- 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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