- Yi: 0
- Possible bottom here for: $BDI
- Trying to hold the 28 DMA: BMY
- Trying to hold the 65 DMA: $VIX, $VXO, QLD
- Trying to break above the 28 DMA: $SOX, $XAU, AA, ARM, BA, BAC, BBT, CLF, CPSL, DDM, EEFT, EWI, EWJ, FRO, FTO, GF, IBM, IRF, IWM, NTES, PBW, PTEN, QQQQ, SDTH, SEED, SU, T, USD, WDC
- Trying to break above the 65 DMA: AAPL, ABX, CAT, ERIE, GG, GLW, PLL, PTR, TIE, TOT, WATG
- Moderately overbought now: $IIX, ACH, C, CAKE, DELL, EXP, GFI, GPC, HMY, MER, NOK, SHI, SHLD, TKR, X
- Toppy here: PNRA
- A break out in either direction is on the way for: AIG and GA
- 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