- Yi: +5.5
- Moderately oversold: EXP
- Trying to hold some rising trendline support: CBK, GIS, IBM
- Attempting to hold the 65 DMA here: KO and PG
- Trying to hold falling trendline support: $VIX
- Up against rising trendline resistance: $DJX, $HGX, $IIX, $OEX, COGO, CSIQ, ELN, FRO, IWM, MEOH, SHLD, SSO, TSL
- Attempting to break above the 28 day: GE and GLD
- Trying to break above some falling trendline resistance: BBT, CPSL, EEFT, FXI, PTR
- Attempting to break above the 65 DMA here: $XAU, GMR, NEM, SHI
- Moderately overbought now: $XOI, ASA, CHK, CSCO, EGO, ELN, EWA, EWJ, FCX, MTH, NTES, PGM, PTEN
- Overbought: $CRB, $GASO, F, QCOM
- Extremely overbought: $SOX
- Toppy here: CREE, GLW, IRF, MSCC
- A break out in either direction is on the way for: AXP, PBY, ROK
- 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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