- Yi: +4.73
- A possible bottom here for: BBT
- Trying to bottom out in this area: QID
- Oversold: OCR
- Moderately oversold: LEN, MTH, PAYX, PEG, TLB, TSLA
- Now trying to hold some rising trendline support: ACH, AXP, BA, EWJ, EXP, FXI, KO, OGE, PGM, PTEN, T, TIE, V
- Attempting to hold the 65 DMA here: AMSC, CTB, MFE, NOK, PEG, UYG
- Attempting to hold the 28 day: $HGX
- Now trying to hold some falling trendline support: CSL and OCR
- Up against the 65 day: $XAU, AEM, CHK, ELN
- Moderately overbought now: $SPX, ACAS, CSCO, GOOG, ROK
- Overbought: $IIX
- Toppy here: GOOG, NTES, PHI, RJI, TKR, TOT, WOR
- A possible top here for: $CRB and HOGS
- A break out in either direction is on the way for: ENER
- 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