- Yi: +0.9
- A possible bottom here for: STX
- Average oversold: NTES and XON
- Moderately oversold: CMG, COST, FXF, GOOG, IDA, MKC, MSFT, PHI, SBUX
- Attempting to hold the 65 DMA here: HPQ and XLY
- Attempting to hold the 28 day: HD, LOW, MCD, VOX, WOR
- Moderately overbought: EROS, QCOM, USL, Z
- Toppy here: BAC, C, CVY, IP, IYE, PEGI, PFF, $PLAT, PYPL, SHLD, SIVR, XLE, $XOI
- A possible top here for: MET, PTEN, QCLN, YYY
- A break out in either direction is on the way for: BA and RGR
- 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