- Yi: +11.4
- CSL, FAST, GE, JACK, LOW and $USD are attempting to bottom out in this area.
- AU, HSY, KLIC, MKC and $USD are at the average oversold level.
- AEM, DPS, EQIX, GG, IRBT, IDA, MCHP, KSFT, MTSI, $NDX, NEM, NFLX, NTES, NUGT, PAYX, PEG, PG, SBUX, QCOM, QID, SHAK, SMH and STX are moderately oversold.
- $DJGSP, NUGT, VOT and XLNX are attempting to hold rising trend line support.
- MCD, MSI, NOW, RAI and XLK are attempting to hold the 65 DMA.
- MMC and SEE are attempting to hold the 28 DMA.
- PTEN and RYE are up against the 28 DMA.
- JJN is up against the 65 day.
- DUST and NOV are up against falling trend line resistance.
- NDAQ is up against rising trend line resistance.
- AHH, PRU, SCHW, TPX and WFC are moderately overbought.
- AVAV, C, BNS, DAL, IYG and UYG are at the average overbought level.
- FXF, GLW and PETX are toppy here.
- A, IR, JNUG, MOS, $NYA50R, PYPL, S and WEN are setting up to break out in either direction.
- 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