- Yi: +11.75
- HPE is possibly forming a bottom.
- AA, CMG, CTB, RRGB, SNAP, SYMC and TWTR are attempting to bottom out.
- FL is extremely oversold.
- BGS and COST are oversold.
- BWA, $DJGSP, FLO, NEM, S and SPLS are moderately oversold.
- CENX and MAT are attempting to hold rising trend line support.
- TILE is attempting to hold the 65 DMA.
- BBY and DRI are attempting to hold the 28 DMA.
- APD and CNK are up against falling trend line resistance.
- AET and CAT are up against rising trend line resistance.
- IR, PAYX and WEAT are moderately overbought.
- WFM is overbought.
- TRV is toppy here.
- MMC is possibly forming a top.
- F and JACK are setting up to break out either up or down.
- 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