- Yi: +5.65
- A possible bottom here for: QID
- Standard oversold: SLE
- Moderately oversold: USB
- Now trying to hold some rising trendline support: F, RBS, URE
- Attempting to hold the 65 DMA here: WSO and XLF
- Up against rising trendline resistance: IBM, JOSB, KO, NWL
- Up against falling trendline resistance: $WTIC, SU, UGA, X
- Up against the 65 DMA here: BA, CSCO, LMT
- Moderately overbought now: ARM, DVY, LMT, NST, PEG, PX, SCHG, TLB, TOT, USB
- Standard overbought: FSLR, GF, MSCC, QLD, VFC
- Extremely overbought: SLV
- Toppy here: ARM, CAT, FCX, QLD, QQQQ, T
- A possible top here for: $CRB
- A probable top here for: $GOLD, $IIX, $PLAT
- A break out in either direction is on the way for: HCBK, LPL, MSFT, UYG
- 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