- Yi: +7.3
- A possible bottom here for: AKAM
- Extremely oversold: HOGS
- Standard oversold now: GOOG, HIT, MMI
- Trying to bottom out in this area: AEM, AQA.TO, FRO
- Moderately oversold: $DJX, $IIX, $OEX, $SPX, AMAT, C, EGPT, ELN, EWA, FXI, GF, GPC, IP, IRF, IWM, IYY, MBI
- Now attempting to hold some rising trendline support: CSL and EWI
- Attempting to hold the 65 DMA here: $CRB, A, BA, CBZ, DGP, GLW
- Attempting to hold the 28 day: $GOLD, CNK, GLD
- Trying to hold some falling trendline support: DM and HCBK
- Up against some falling trendline resistance: FCX
- Moderately overbought now: $BDI, FAZ, FSLR
- 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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