- Yi: +5.97
- Moderately oversold now: CHK and PTEN
- Trying to hold some rising trendline support here: $SOX, ACF, EXP, HCBK, JASO, MSCC, MTH, PBY
- Up against rising trendline resistance: LUFK
- Trying to break above some falling trendline resistance here: $VIX
- Moderately overbought now: AVP, GF, KFT
- Overbought: BBT, BGS, F
- Toppy here: $DJW, ACF, BBT, BGS, F, GMR, LOW
- A possible top here for: A, IDA, PAYX
- A break out in either direction is on the way for: ASA and QCOM
- 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.
No comments:
Post a Comment