- YI: -3
- Trying to bottom out in this area are: AKNS, ASA, BA, BZP, CSIQ, DELL, EWI, EWJ, FXI, GLD, IFN, JASO, NEM, PPW, PTEN, PTR, STX, SU, TSL, TSM, USD, WDC, WGW, WOR
- Extremely oversold now: $XAU, AA, ABX, ACH, GDX, GG, GLW, NOK, TOT, WFR
- Standard oversold: $XOI, AMAT, CLF, EWA
- Moderately oversold: $DJX, $IIX, $OEX, $SOX, $SPX, $VXO, BNI, CSY, GE, IYY, MSCC, PLL, QQQQ, ROK, TAN, TIE, UGP, V, WATG, WSO
- Attempting to hold the 28 DMA here: B, CREE, CSL, GPC, IWM, JNJ, KBW, OCR, T, WHR, WY
- Attempting to hold the 65 DMA: CPSL, MCD, SDTH
- Moderately overbought now: QID
- 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