- Yi: +9.0
- CHK and XON are possibly forming a bottom at this level.
- APD, GE, PYPL, SHLD and SYY are attempting to bottom out in this area.
- CVS is at the average oversold level.
- CSL, IP, MET, NAT, TILE, VOX, WFM and XLE are moderately oversold.
- POT is attempting to hold rising trend line support.
- AMTD and BA are attempting to hold the 65 DMA.
- FL is up against the 28 DMA.
- PMPIX is up against rising trend line resistance.
- AU, M, MMC, PFF and SEE are moderately overbought.
- $XAU is a bit toppy at this level.
- BGS, GPC, PTEN and WOR are setting up to break out either up or down.
- 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