- Yi: +10
- Now trying to bottom out: GIS and ZSL
- Moderately oversold: PG
- Attempting to hold the 65 DMA here: SLE
- Up against rising trendline resistance: $CRB and ATI
- Up against the 28 DMA here: AEM, B, FCX, SLW
- Up against falling trendline resistance: $NYA50R, AVAV, DM, SCHE
- Up against the 65 DMA here: VFC
- Moderately overbought: $GASO, $WTIC, AAPL, ACH, BBT, IWM, IYY, KBE, PGM, QLD, RAIL, SCHC, UGA, USB, UYG, WSO, X
- Standard overbought: AA, BPZ, CHK, CLF, DDM, EWI, HIT, IP, IRF, PTR
- Extremely overbought now: $XOI, GE, GLW, RJA, SU, WY
- Toppy here: XOP
- 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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