- Yi: +3
- Now trying to bottom out in this area: AKNS, IRF, SWK, USD, VFC
- Standard oversold at this point: ENER and TLB
- Moderately oversold now: $HGX, AA, AAPL, AMAT, ARM, AXP, BAC, BNI, CHK, CREE, CSCO, CSIQ, CSL, ERIC, EXP, GLW, GPC, IDA, JASO, KBE, LDK, LEN, MFE, MMC, MSCC, MTH, NAT, NM, NOK, NST, PLL, PTEN, QCOM, RBS, SDTH, SHI, SPWRA, STX, SUN, TPX, URE, WFR, WHR, WY, X
- Attempting to hold the 28 day moving average: $DJX, ACAS, BPOP, BPZ, CAT, CHK, CNK, DVY, EWA, FCX, GE, GOOG, IWM, IYY, LDK, MBI, NM, NOK, PBW, QQQQ, ROK, SKS, STX, TAN, USB, XLF
- Attempting to hold the 65 day moving average: COGO, EXP, MSCC, PLG
- Moderately overbought now: $GOLD
- Standard overbought at this point: WGW
- A break out in either direction is on the way for: KFT and LMT
- 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.
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