- Yi: 0
- Possible bottom here for: BBT, BPOP, DVY, GE, MOT, NWL, PG, SKS, URE
- Trying to bottom out in this general area: $XEU, C, KFT
- Standard oversold now: AKNS and BPZ
- Moderately oversold: FXE
- Now trying to hold the 65 day moving average: BGF and SUN
- Now trying to break above the 28 day moving average: AXB, CBK, ENER, EWA, NOK
- Now trying to break above the 65 day moving average: $SPX, BNI, CTB, IYY, SDTH, SEED
- Moderately overbought now: $IIX, $XAU, ABX, ACH, ASA, CHK, EXP, FCX, FSLR, FXI, GDX, GG, PHI, V
- Standard overbought here: COGO and MTH
- A break out in either direction is on the way for: F, FRO, MCD, PNRA
- 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