- Yi: +4.3
- Extremely oversold: NOK
- Oversold: V
- Moderately oversold: EWJ, FXI, LDK, LMT, PAYX, PTEN, PTR, QLD, SSO, STX, TSM, USD, UYG, WDC
- Attempting to hold the 65 DMA here: GE, IDA, LEN, MTH, OGE, PHI, RBS, SHLD, SWK, VFC, WY
- Attempting to hold the 28 day: PEP, PG, TLB
- Attempting to break above the 65 day: QID
- Extremely overbought: $USD
- A break out in either direction is on the way for: JASO and WATG
- 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