- Yi: +5.8
- Now trying to bottom out: $VIX
- Moderately oversold: KO
- Trying to hold some rising trendline support: A, ARM, CSL, DVY, EEFT, LPL, LUFK, NST, PEG
- Attempting to hold the 65 DMA here: AVAV and CBK
- Attempting to hold the 28 day: MFE
- Trying to hold falling trendline support: AVP
- Up against rising trendline resistance: $SPX, BAC, BBT, CREE, F, HCBK, IYY, JASO
- Attempting to break above the 28 DMA here: $GOLD and AEM
- Trying to break above some falling trendline resistance: BPOP
- Moderately overbought now: $XAU, BAC, CPSL, ENER, FSLR, FUQI, GG, HCBK, IFN, KBE, KGC, LDK, LEN, MBI, NAT, NWL
- Overbought: $PLAT, $WTIC, BA, MEOH, PBW
- Extremely overbought: SHLD
- Toppy here: $GASO, $XOI, ACH, CLF, ELN, JASO, KFT, MEOH, NM, PTEN
- More later. 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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