- Yi: +5.05, +5.8, +6.25, +7, +7.9
- Now trying to bottom out: $VIX
- Moderately oversold: $VIX
- Attempting to hold the 65 DMA here: FAZ
- Up against the 28 day: AKAM and AVP
- Now up against some falling trendline resistance: $HGX, $WTIC, ELY, GLW
- Up against the 65 DMA here: AA, EWA, EWI, EXP, FXI, IFN, IP
- Up against the 90 day: BA
- Moderately overbought: $DJX, $NYA50R, $OEX, $SPX, $XOI, A, AAPL, ACAS, B, BBT, BLL, C, CAT, CLF, CNK, CSL, DVY, EWJ, FCX, GF, GPC, HIT. IDA
- Overbought: AXP, BMY, CAKE, DDM, DELL
- Toppy here: CSL and DDM
- 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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