- Yi: +3.95
- A possible bottom here for: LEN and MFE
- Now trying to bottom out in this area: CPSL, DELL, FUQI, MMC, NOK, PTEN, SHI, WFC
- Average oversold: MMC
- Moderately oversold: $GOLD, $HGX, $WTIC, $XAU, $XOI, ASA, AVP, BAC, EWI, FCX, FXI, GDX, GLD, KGC, PLL, RJI, SHI, SLV
- Attempting to hold the 65 DMA here: $XAU, ABX, CAT, CSCO, EGO, OCR
- Trying to hold rising trendline support: $GASO, AVP, BPZ, C, CREE, DVY, EWA, F, KGC, UGP, UYG
- Trying to hold falling trendline support: CAKE and MFE
- Attempting to hold the 38 day: PEP and QLD
- Attempting to hold the 28 day: $DJX, $IIX, $OEX, DDM, PG, QQQQ, PG
- Trying to break above falling trendline resistance: AAPL, GPC, MEOH
- Attempting to break above the 65 DMA here: MOT
- Moderately overbought now: $USD and NST
- Toppy here: BA
- A possible top in place here for: SYY
- A break out in either direction is on the way for: ELN
- 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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