- Yi: -1.6
- Trying to bottom out: AVAV, AVP, FXF
- Extremely oversold: RGLD
- Oversold: X
- Moderately oversold: IAU
- Trying to hold the 65 DMA here: DM
- Trying to hold the 28 day: QID
- Up against the 28 day: ACH, AMD, CMG, COH, GE, GM, JWN, MED, MKC, MTH, QCLN, SPWR, SUNE, TSL, VOX, WSO
- Up against the 65 day: $SPX, CAKE, CSCO, CSIQ, GXC, MMC, MOS, MSFT, NCR, QLD, SCHB, SCHD, SEE, SHAK, VGK, XLB, XON, YYY
- Moderately overbought: $HGX, ARMH, CLF, CSL, HSY, INTC, LEN, LPL, NAT, NFLX
- Overbought: MSI
- Toppy here: BGS, JCP, MSI
- 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