- Yi: +7.26
- Extremely oversold: BAC
- Oversold: CBZ and X
- Moderately oversold: HCBK
- Trying to hold some rising trendline support: AAPL, CSIQ, GLW, IBM, NOK, PHI
- Attempting to hold the 65 DMA here: MTH and SWK
- Attempting to hold the 28 day: AVP, VZ, WOR, XOP
- Moderately overbought: TSM
- Overbought: RJA
- Extremely overbought now: $IIX and GF
- Toppy here: B, CAKE, V
- A possible top here for: SNA
- A break out in either direction is on the way for: FUQI, UYG, XLF
- 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