- Yi: +5
- Attempting to bottom out in this area: ACAS
- Moderately oversold now: BPOP, FSLR, USB
- Attempting to hold the 28 day moving average: AXP, FRO, KBE, LDK, RGLD, SHI
- Attempting to hold the 65 day: SUN and TSM
- Attempting to break above the 28 day: MMC
- Moderately overbought now: CBK and MFE
- Standard overbought: EEFT and PGM
- Toppy here: TLB and WSO
- Possible top here for: CNK
- Has gone parabolic: GOOG and NTES
- A break out in either direction is on the way for: BBT
- 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