- Yi: +8.6
- CAKE, DF, M, and WEAT are attempting to bottom out at this level.
- BBBY and O are at the average oversold level.
- FL, HSNI, PHI and VFC are moderately oversold.
- DRI is attempting to hold the 28 DMA.
- $XAU is up against falling trend line resistance.
- FXF is moderately overbought.
- BBRY, $FTSE and MTSI are at the average overbought level.
- MCD is extremely overbought.
- AEM and NOK are toppy.
- BABA, CWI, EFV, EWI, FEU, FNDF, UGP, V, VGK and WEN are possibly forming a top at this level.
- Anything posted 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