- Yi: +7.8
- Extremely oversold: LPL
- Moderately oversold: NEM
- Up against the 28 day DMA: CREE, EFV, FEU, GLW, PG
- Up aginst the 65 day: $NDX. $SPX, $XOI, CSCO, FCX, FNDF
- Overbought: C, GDDY, JPM
- Moderately overbought: $GASO, CAKE, CAT, NFLX
- A break out in either direction is on the way for: CTB
- 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