- Yi: +13.26
- LPL, QCOM, RRGB, RJR and STX are trying to bottom out.
- CAKE is extremely oversold.
- EROS, HA and SBUX are average oversold.
- FLR, GT, MAT, MRVL, RS, TKR, WDC and XLNX are moderately oversold.
- AA and KLIC are attempting to hold the 65 DMA.
- AVAV, WOR and X are attempting to hold the 28 DMA.
- BBY, $CRB and NIB are up against falling trend line resistance.
- CAFE, $DJTENG, EQIX, GFI, IAU, INTC, NIB, SU and UGLD are moderately overbought.
- FSLR and $GOLD are average overbought.
- BIDU is extremely overbought.
- FB, JCP and JJN are toppy.
- BA is possibly forming a top in this area.
- QVCA is setting up to break out 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