- Yi: -0.76
- A possible bottom here for: CLF
- Now attempting to bottom out in this area: $DJW, $HGX, $IIX, $OEX, $PLAT, $USD, $XOI, ACH, AMAT, ARM, CAKE, CHK, COGO, CSL, DDM, DELL, DM, FCX, FUQI, GOOG, IRF, LPL, QCOM, QLD, QQQQ, RBS, SCHB, SSO, SU, TKR
- Extremely oversold: AA and SDTH
- Oversold: CNK and SSO
- Moderately oversold: ACAS, C, CAT, COGO, GDX, UGA
- Now trying to hold some rising trendline support: SHI
- Attempting to hold the 65 DMA here: $GOLD
- Now trying to hold falling trendline support: $OEX, $SPX, AA, CBZ
- Up against falling trendline resistance: CBK, FRO, FXI, LMT, MTH
- Up against the 65 DMA here: RJA
- Moderately overbought: TSL
- 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