- YI: -4
- Trying to bottom out in this area: ERF
- Extremely oversold at this point: EBAY
- Moderately oversold: OKE and PEG
- Trying to hold some rising trend line support: XPLT
- Trying to hold falling trend line support: BHP, CSIQ, OGE, and QCOM
- Attempting to hold the 28 DMA here: AEM
- Trying to break above some falling trend line resistance: AIG, ARM, CAT, GM, KBE, NWL, V, and WB
- Attempting to break above the 28 DMA here: AVP, the DJ-30, DVY, GM, HON, IFN, IWM, NYB, UYG, WY, and XLF
- Moderately overbought now: BAC, C, CPB, WHR, and WSO
- 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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