- Yi: +6.125
- A probable bottom here for the: $VIX
- Moderately oversold: FSLR, PTR, SPWRA, SUN, T, YGE
- Trying to hold some rising trendline support: $DJX, $HGX, $IIX, $SOX, DDM, DVY, IDA, KGC, OCR, RGLD, RJI, SCHB, SKS, SSO, USD
- Attempting to hold the 65 DMA here: $XOI, TOT, UGA
- Attempting to hold the 28 day: ROK
- Now up against rising trendline resistance: $OEX, $PLAT, $SPX
- Attempting to break above the 28 DMA here: AVP
- Attempting to break above the 65 day: EEFT and MFE
- Moderately overbought now: GPC, NST, PEP, WSO
- Overbought: ACAS and AVAV
- Toppy here: ACAS, BBT, EWJ, MBI, MEOH, MKC
- A possible top here for: ELN
- A break out in either direction is on the way for: MMC and PGM
- 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