- Yi: +3.63
- A possible bottom here for: ENER
- Trying to bottom out in this area: ABX, EGO, GOOG, SU, T, TAN, WFR
- Oversold: SU, TAN, TOT, WDC
- Moderately oversold now: AVAV, CTB, GF, KO, LPL, MOT, PEG, TSL, TSM, WDC
- Attempting to hold the 65 DMA here: V
- Attempting to hold the 28 DMA here: RJA and STX
- Trying to break above the 28 DMA here: PGM
- Trying to break above some falling trendline resistance: PBW
- Moderately overbought: MEOH, MMC, RAIL, RBS
- A break out in either direction is on the way for: EWJ
- 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