- Yi: +1.9
- Trying to bottom out in this area: DM
- Standard oversold: B, GLW, HPQ
- Moderately oversold: $OEX, $SPX, ARM, AXP, BA, COGO, COST, ENER, GE, GOOG, LUFK, MEOH
- Trying to hold some rising trendline support: $WTIC, $XAU, ABX, CNK, DELL, EWJ, FXI, GDX, GPC, JASO
- Attempting to hold the 65 DMA here: $DJW-weekly, DVY, EWA, EWI
- Attempting to hold the 28 day: CAT and HOGS
- Trying to hold falling trendline support: $SPX, AMSC, B, CBZ, FRO, GMR, LUFK
- Up against falling trendline resistance: IRF
- Up against the 65 DMA here: $VIX
- Standard overbought: IFN
- Toppy here: $GOLD
- A break out in either direction is on the way for: JOSB
- 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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