- Yi: -0.5
- Trying to bottom out: DB, CAR, MOS, NOV
- Moderately oversold: ANF, ATI, BAC, BGS, C, CMG, F, JPM
- Attempting to hold the 65 DMA here: IYG
- Attempting to hold the 28 DMA: AIG, AVAV, AXP, CAT, CLF, CSCO, CVS, CVY, EROS, FXI, GE, GF, GPC, IJH, IJR, INTC, IWM, MDY, RTH
- Up against the 65 DMA: CTB
- Up against the 28 DMA: $VIX
- Moderately overbought: SBUX and MTH
- Toppy here: MCD
- A break out in either direction is on the way for: NAT
- 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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