- Yi: -2.5
- Probable bottom here for: CAKE
- Trying to bottom out in this area: ACF, ARM, EXP, NYSE Summation Index, STX, TSL, WHR
- Attempting to break above the 28 DMA: $DJX, AAPL, B, BA, BNI, BPOP, COGO, EGO, FNM, FXF, GA, GM, GOOG, KFT, LOW, MBI, NAT, NOK, NTES, OCR, PAYX, PBCT, PG, QCOM, QID, SUN, TIE, TLB, TOT, V, WB, WDC, WFC, XLU
- Trying to break above the 65 DMA: BPOP, GPC, MCD, T
- Moderately overbought: GIS, NST, OGE
- Anything 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