- Yi: +5
- Possible bottom here for: QID
- Attempting to hold the 65 day: HCBK
- Attempting to hold the 28 day: TIE
- Attempting to break above the 28 day: FRO and MMC
- Attempting to break above the 65 day: FSLR and GTU
- Moderately overbought here: $CRB, $HGX, $XOI, AA, ARM, B, BMY, CHK, CREE, EEFT, EWJ, IRF, JOSB, MOT, PBW, PEG, RJI, SDTH, SHLD, SLW, SUN, T, TSM, UGA, URE, WY, XOP, YGE
- Standard overbought: $SPX, ACH, BNI, CAKE, CAT, CBK, CTB, DVY, IWM, LEN, LOW, LUFK, MTH, QQQQ, RAIL, SHI, SPWRA, SWK, TKR, USD, WATG, WDC, WSO
- Extremely overbought: CSL, MEOW, ROK
- Toppy here: $HGX, $OEX, AMAT, CTB, DVY, EWI, EXP, IWM, LEN, MFE, MTH, ROK, SHI, SU, T, USD
- Possible top here for: $DJX, $SOX, KFT, TSL
- A breakout in either direction is on the way for: GIS and SEED
- 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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