- Yi: +9
- Trying to bottom out here: DZZ, MED, MMI, QID, UUP
- Standard oversold: $USD and DM
- Moderately oversold: MBI and MMI
- Trying to hold some rising trendline support here: BBT, CNK, PRBLX-weekly, PRBLX
- Attempting to hold the 65 DMA here: JCP and TSL
- Trying to hold falling trendline support: PBW, PG, QCLN
- Up against the 28 DMA here: $IIX, PEP, SUN
- Up against some falling trendline resistance: $BDI, $BDI-weekly, ATI, ELN
- Up against the 65 DMA here: AXP, NAT, RAIL
- Moderately overbought now: $NYA50R, $PLAT, AQA.TO, DVY, GF, GPC, HIT, IRF, IWM, IYY, PTR, SCHC
- Standard overbought: CLF
- Toppy here: NTES, OCR, PTEN, SWK, XOP
- A possible top here for: EXP and SU
- A probable top in this area for: $CRB, RJI, UGA
- A break out in either direction is on the way for: BAC, CSL, FAZ
- 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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