- Yi: +2.5
- Now trying to bottom out: TOT, WFR, WGW
- Standard oversold here: HMY
- Moderately oversold: $WTIC, $XOI, AKNS, BA, ELN, ENER, FSLR, KO, LDK, LEN, MBIA, SPWRA
- Attempting to hold the 28 day moving average: $DJX, $OEX, $PLAT, $SOX, $SPX, AMAT, ARM, AVAV, B, BAC, CAT, CHK, CNK, DDM, EWA, FCX, GE, KBE, PBW, PEG, T
- Attempting to hold the 65 DMA here: ACAS and SDTH
- Moderately overbought now: $USD
- A break out in either direction is on the way for: NST
- 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