- Yi: +1.5
- Now trying to hold the 28 DMA: $XEU, BMY, CBK, CEF, GG, WGW
- Now trying to break above the 28 DMA: $CRB, $USD, BPOP, MBI, MSCC
- Now trying to break above the 65 DMA: CNK, CPSL, CREE, LDK, SDTH, SEED, STX, WDC, WFR
- Moderately overbought now: $HGX , $SOX, $WTIC, $XOI, ACF, AMAT, BNI, BPZ, CSL, EWA, EXP, FCX, GLW, IBM, IRF, IWM, IYY, LEN, MTH, TPX, UGP, V
- Standard overbought: PLG
- Toppy here: CAKE
- 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