- Yi: +10
- A possible bottom in this area for: $BDI, $CRB, TLB
- Now trying to bottom out: F, FAZ, YUII
- Moderately oversold: $VIX, ARM, CTB, JCP, YUII
- Trying to hold some rising trendline support: GPC, LOW, PEG
- Attempting to hold the 65 DMA here: LOW and MSFT
- Attempting to hold the 28 day: $HGX, AMSC, UGA
- Up against some rising trendline resistance: $DJX, ACH, BBT, DVY, MMC, OCR
- Up against the 28 day: AGQ, ASA, GLD, MMI
- Up against some falling trendline resistance: CAKE, IFN, JASO
- Up against the 65 DMA here: AQA.TO, CSL, JASO, SLW, STX
- Moderately overbought now: $HGX-weekly, $IIX, $PLAT, $SPX, AGQ, BA, BAC, CSCO, EWA, EWJ, HPQ, NOK, NTES, PAYX, SLV, VFC, WFR
- Standard overbought: BLL, GE, NCR, NFLX
- Extremely overbought: HIT
- Toppy here: AA, GE, RJZ
- A break out in either direction is on the way for: BGS, DM, VZ
- 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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