- Yi: +2.65
- A possible bottom here for: ABX, ACH, C, FCX
- Attempting to bottom out: $GOLD, ASA, PAYX, SHI
- Oversold: $CRB, $XOI, AA, ASA, BPZ, DELL, ENER, EWI, QCOM, SLV, TOT
- Moderately oversold: AVP, B, CHK, DDM, PEG, PEP, RJZ, XLU, WY
- Attempting to hold the 65 DMA: $VIX, CSL, PHI, PLL, SKS
- Attempting to hold the 28 day: GE and OGE
- Moderately overbought: BA, MTH, NOK, PG
- Overbought: AVAV
- Toppy here: GIS
- A break out in either direction is on the way for: BPOP, JOSB, MMC
- 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