- Yi: +9.8
- SGG is possibly forming a bottom.
- ANF, BBBY, CANE, CHK, RAIL and $SUGAR are attempting to bottom out.
- XON is extremely oversold.
- CW, DB and SPWR are at the average oversold level.
- AIG, HSNI, MDY, PTEN, WEAT, WFC, WHR, YUM, UUP and UYG are moderately oversold.
- EWA, FTSE, FEU and Q are attempting to hold rising trend line support.
- LEN is attempting to hold the 65 DMA.
- AVAV, QCOM, QLD, SCHD and SHLD are attempting to hold the 28 DMA.
- PMPIX and QID are up against the 28 DMA.
- WEN is up against falling trend line resistance.
- AEM, FXF, IAU, LPL, RGLD and UGLD are moderately overbought.
- PNRA is at the average overbought level.
- COST and FCX 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