- Yi: -1.5
- Possible bottom here for: IDA, NST, PG, SKS, SSRI
- Trying to hold the 28 DMA here: $USD
- Trying to break above the 28 DMA: AXP, FSLR, GM, MKC, PTR, ROK, URE, UYG, WFC, WHR, XLF
- Trying to break above the 65 DMA: CHK, JOSB, SHLD, VFC
- Moderately overbought now: ERIC, EXP, GA, PHI
- Toppy here: UGP
- 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