- Yi: +4.75
- Now trying to bottom out: ACAS, AEM, ASA
- Oversold: ACAS
- Moderately oversold: ASA and SLV
- Trying to hold rising trendline support: GMR
- Attempting to hold the 65 DMA here: $CRB, GLD, LMT, NAT
- Attempting to hold the 28 day: RJZ
- Trying to hold falling trendline support: SHI
- Up against rising trendline resistance: $IIX, $SPX, AA, CREE, CTB, IBM, IYY, SSO
- Attempting to break above the 65 day: $PLAT, $XOI, LEN, PEP, SDTH
- Trying to break above some falling trendline resistance: $DJW, $NYA50R-weekly, $OEX, CSCO, KBE, NOK, NTES
- Moderately overbought now: AMAT, CHK, GPC, QCOM, ROK, SKS, T, TOT
- Overbought: $SOX, AA, GIS, IRF, TIE
- Extremely overbought: CSIQ and NST
- Toppy here: BPZ, CAKE, CSIQ, JASO
- A possible top here for: ARM
- A break out in either direction is on the way for: BBT and CAT
- 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