- YI: +7.8, +8.1
- A possible bottom here for: CSCO
- Now trying to bottom out: AMAT, F, FRO, FSLR, FUQI, HCBK, NOK, TAN, WDC, WFR, WSO, YGE
- Standard oversold: YUII
- Moderately oversold now: LMT and VZ
- Attempting to hold the 65 DMA here: GPC and NCR
- Attempting to hold the 28 DMA here: PG
- Up against the 28 DMA here: AEM and SLW
- Up against some falling trendline resistance: $DJW, AAPL, CSIQ, EEFT, EWI, IDA, NTES, SCHB, UYG
- Up against the 65 DMA here: $PLAT, GG, MMI, PTR, SLV, UGA
- Moderately overbought now: CAKE, MMC, TSLA
- Standard overbought: MED and NFLX
- Toppy here: NFLX
- 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