- Yi: +3.65
- Trying to bottom out here: QID
- Extremely oversold: ELY
- Oversold: LOW
- Now trying to hold some rising trendline support: F
- Attempting to hold the 65 DMA here: JOSB
- Trying to hold falling trendline support: NOK
- Up against rising trendline resistance: $GOLD-weekly chart.
- Up against falling trendline resistance: GOOG
- Up against the 65 DMA here: $WTIC, AXP, MMC, PEP, QQQQ, RJA, TOT, UGA
- Now overbought: AAPL
- Moderately overbought now: $OEX, A, AMAT, ASA, DM, FSLR, IWM, NST, PEP, QQQQ, SSO, USD
- Toppy here: BMY, CAT, DDM, PEG, SU, SUN
- 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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