- YI: -1.5
- Trying to bottom out here: $XOI, AAPL, ACH, CAT, GLW, NOK, SHI, TKR, TOT, WFR, XLU
- Extremely oversold: $CRB and $WTIC
- Standard oversold: $IIX and PEG
- Moderately oversold: QCOM
- Attempting to hold the 28 DMA here: LDK, NTES, TIE
- Attempting to hold the 65 DMA: PAYX
- Attempting to break above the 65 DMA here: $DJX, ACAS, HMC, WM
- Standard overbought at this point: PBCT
- 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