- Yi: +3.1
- Trying to bottom out in this area: $PLAT and BAC
- Extremely oversold: WDC
- Oversold: WHR
- Moderately oversold: WSO
- Attempting to hold the 28 DMA here: $GOLD-weekly and ACF
- Up against rising trendline resistance: CTB
- Up against the 28 DMA here: B, PAYX, SUN, XOP
- Up against falling trendline resistance: $USD, $XOI, ABX, AMAT, BGS, CNK, DELL, GDX, GIS, IRF, LEN, LMT, SPWRA
- Up against the 65 day: $DJX, BA, CLF, COGO, DDM, GOOG, NM, UGA, URE, USD, WFR
- Moderately overbought now: ACH, CREE, CSIQ, CTB, FCX, FRO, FXI, GF, HOGS, IFN, LDK, PTEN, QCOM, RJA, RJI, SU, TAN
- Overbought: KO and NTES
- A break out in either direction is on the way for: BPOP and EEFT
- 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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