- Yi: -3.5
- Probable bottom here for: $SPX, $WTIC, AMAT, BPZ, CAKE, CBK, CLF, CREE, CSIQ, CSL, CTB, ERIC, GOOG, IWM, IYY, MEOH, MER, MOT, MTH, PBY, QQQQ, SDTH, SLW, STX, TIE, TKR, TPX, TSM, URE, UYG, VFC, WATG, WDC, WFR, WHR, X, XLF
- Possible bottom in this area for: $CRB, $DJX, $IIX, $OEX, $SOX, $SPX, AA, ACH, AVP, AXP, B, BA, BAC, BNI, CAT, COGO, EEFT, EWA, EWI, EWJ, EXP, DDM, GF, IFN, JASO, JCP, MFE, PAYX, PLL, PTEN, ROK, USB, WFR, WY
- Trying to bottom out: AAPL, EWJ, FCX, FTO, PBW, PTEN, SHI, TAN, USB, WOR, WY
- Extremely oversold: KBE and LUFK
- Moderately oversold: T
- Trying to break above the 28 DMA: BGF, IDA, MBI, PHI, PBCT, SUN, UGP, WGW
- Toppy here: $VIX
- 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