- YI: -2
- Possible bottom here for: AA
- Trying to bottom out in this area: ACH, FXI, MER, and XPLT
- Trying to hold some rising trend line support: ADP, BPOP, DVY, EXP, MCD, and TLB
- Trying to hold falling trend line support: IFN and UGP
- Attempting to hold the 28 DMA here: BAC and IBM
- Trying to break above some falling trend line resistance: CPSL and CY
- Attempting to break above the 28 DMA here: CSIQ, NST, STX, and the VXO
- Moderately overbought now: HMC, IDA, and WATG
- Toppy here: MSCC, PEP, and PG
- 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