- Yi: -0.34
- Trying to bottom out here: DELL, EWJ, F, JOSB, NOK, PBW
- Now oversold: $DJX, $IIX, $NYA50R, $OEX, $SPX, B, CAKE, CHK, CLF, CSCO, DDM, FCX, FRO, GLW, GOOG, HCBK, IRF, LDK, LMT, LPL, OCR
- Moderately oversold: $CRB, $GASO, $PLAT, ARM, AVP, BA, CAT, CBZ, DM, FSLR, FXI, GIS, HOGS, IBM, MKC, MOT, NAT
- Now trying to hold some rising trendline support: AAPL and ARM
- Now trying to hold falling trendline support: $DJW-weekly chart, $IIX, A, BPZ, KBE
- Attempting to hold the 28 DMA here: GF
- Up against the 28 DMA here: $USD
- Moderately overbought now: $VIX
- 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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