- Yi: +4.3
- Now trying to bottom out: $VIX, RBS, WFR
- Moderately oversold: $BDI-weekly, AEM, MOT
- Trying to hold some rising trendline support: CSCO, FXI, GE, HCBK, TSM
- Attempting to hold the 28 DMA here: STX
- Trying to hold falling trendline support: MTH
- Up against rising trendline resistance: IYY, LDK, URE
- Attempting to break above the 28 DMA here: CAT
- Attempting to break above the 65 day: PTEN, SU, TLB
- Trying to break above falling trendline resistance: $GASO, $NYA50R-weekly, $OEX, $SPX, LEN, MFE, NM, UYG
- Moderately overbought now: $USD, FRO, FSLR, GA, IWM, OCR, PBW, TAN
- Overbought: CSIQ, GLW, IDA, JASO, LOW, NST, TIE
- Extremely overbought: TSL and V
- Toppy here: ARM, BMY, CAKE, DDM, DVY, FSLR, GPC, IDA, KO, LOW, NST, TIE, V
- A break out in either direction is on the way for: USD
- 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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