- WARNING, WARNING, WARNING!!! The SPX is "officially" overbought now!
- Yi: +10 again!
- A probable bottom here for the: $VIX
- Trying to bottom out in this area: FRO
- Extremely oversold: FAZ
- Standard oversold: SDTH, TIE, TLB
- Moderately oversold: YUII
- Now trying to hold some rising trendline support: USD
- Attempting to hold the 65 DMA here: UUP and YUII
- Attempting to hold the 28 DMA here: OGE
- Trying to hold falling trendline support: HOGS
- Up against rising trendline resistance: SEE
- Up against the 28 DMA here: VOD
- Up against falling trendline resistance: PTR
- Up against the 65 DMA here: XLU
- Moderately overbought: GOOG, MOT, PEP, SCHF, SEED, SPWRA, TOT, USB, VZ
- Standard overbought now: $OEX, $SPX, A, CLF, DVY, FCX, PRBLX, QCOM, RGLD, SSO, UYG, V, VFC, WFC, WOR, XLF
- Extremely overbought: LUFK, WSO, X
- Toppy here: ACAS, GE, SCHA, SCHB, SCHG, SEED, TKR, UYG, WDC, WFC, WOR, XLF
- A possible top here for: $IIX, AMAT, ARM, AXP, B, CREE, CSL, IYY, MMC
- A break out in either direction is on the way for: SHLD and SYY
- 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