- YI: -5
- Trying to bottom out: AA, ALEX, and CY
- Extremely oversold: AKNS and the S&P-500.
- Standard oversold: EWJ, RIO, CSIQ, MDC, SPWR, TSU, and the VXO
- Moderately oversold: FCX, TOT, PCU, and the XOI index.
- Trying to hold some rising trend line support: FCX and LOW
- Trying to hold falling trend line support: PHI and WFR
- Attempting to hold the 28 DMA here: ASA
- Attempting to break above the 28 DMA here: JNJ
- Moderately overbought now: XSLV
- 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