- YI: -3
- Moderately oversold: BGF
- Trying to hold some rising trend line support: IDA, NWL, and the VXO
- Trying to break above some falling trend line resistance: AAPL, ADP, AIG, AMAT, BAC, LEN, PG, SEE, S&P-500, USB, WB, WFC, and XSLV
- Attempting to break above the 28 DMA here: AA, AKNS, and TAN
- Moderately overbought: KFT, OGE, and SUN
- Standard overbought: AVP
- Toppy: QCOM
- 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