- Yi: +9.25, +9.3
- Now trying to bottom out: CSCO
- Moderately oversold: AAPL, AVAV, DELL
- Attempting to hold the 65 DMA here: AMAT
- Up against some falling trend line resistance: $NYA50R-weekly
- Moderately overbought now: CBZ and CNK
- Standard overbought: $DJX, $GASO, $WTIC, ACAS
- Toppy here: DDM
- A possible top here for: CAT
- A break out in either direction is on the way for: AVP and B
- 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