- Yi: +3.5
- Now moderately oversold: $VIX and QID
- Attempting to hold the 65 DMA here: $VIX
- Up against rising trendline resistance: AAPL
- Up against the 28 day: $OEX, EWJ, PAYX, PGM, XLF
- Up against falling trendline resistance: $HGX, $XOI, ARM, BBT, CSIQ, CSL, DELL, ENER, FUQI, IYY, LEN, MBI, MSCC, NST, PAYX, SHI, SPWRA, UGP, UYG, WOR
- Up against the 65 DMA here: $CRB, $IIX, COST, CREE, FSLR, IFN, KFT, KGC, LMT, MEOH, MMC, PLL, SKA, T, TKR, VFC
- Moderately overbought now: $CRB, $DJW, $DJX, $GASO, $IIX, $NYA50R, $SPX, ACAS, AVP, EWA, GLW, HOGS, IDA, JOSB, LUFK, MEOH, NAT, TOT, TSL, URE, VFC, VOD, XLU, XOP
- Overbought: PEG, RGLD, SUN, TIE
- Toppy here: BA, FRO, TIE
- 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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