- Yi: +4 (It is possible the market could go into correction mode this time without hitting the Yi +5 area.)
- Trying to bottom out in this area: BMY
- Moderately oversold now: $USD, $VIX, AEM
- Attempting to break above the 28 day moving average: $CRB, $WTIC, $XEU, CNK, LUFK, XLU
- Attempting to break above the 65 day: AKNS, ENER, FTO
- Moderately overbought now: $DJX, $OEX, $SOX, $SPX, $XOI, BNI, DVY, EWA, EXP, LMT, LUFK, MMC, NST, OGE, PBW, PRBLX weekly, TAN, TIE, TKR, URE, XOP
- Standard overbought: BGF, CAT, CSCO, CSL, DELL, FSLR, IRF, IWM, IYY, LOW, MEOH, NWL, PLL, RBS, TSL, TSM, UGP, WSO
- Extremely overbought: MTH, QQQQ, ROK
- Toppy here: AAPL, ACF, BA, BBT, CAKE, CSCO, CSL, CTB, EEFT, GF, GOOG, IBM, IWM, MTH, PLL, QQQQ, SWK, TPX, V, WHR
- Possible top here for: AXB, AXP, B, EWI
- A break out in either direction is on the way for: ARM and SU
- 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