- Yi: +11.85
- CTB, DF, FLR, MRVL, PTEN, SBUX and STX are attempting to bottom out.
- AVP and UIS are now extremely oversold.
- BBRY, HAS, JCP, LPL, MTSI, NOV, SBUX and TWTR are at the average oversold level.
- AGX, AMAT, AMZN, BBBY, CAL, CIEN, CSL, DAL, DB, DBA, GLW, GOOG, GPC, $HGX, IJH, IJR, IP, IR, ITW, IWM, JWN, KLIC, LM, M, MDY, MSI, MU, NOW, NTES, NFLX, $NYA50R, PRU, RS, SCHW, SFTBY, SGG, $SUGAR, SWK, VOT, WU, WYN, XLB, $XOI and Z are moderately oversold.
- EFV, GEF, PYPL, USL and $WTIC are trying to hold rising trend line support.
- AA, FB, FSLR, IYJ, LOW, SMG, UGA and VFC are attempting to hold the 65 DMA.
- CC, FXI, HBI, NIB, PYPL and SYY are attempting to hold the 28 DMA.
- FXF is up against the 28 DMA.
- AGQ, CEF, $SILVER, SIVR, SLV and $VIX are moderately overbought.
- LMT is acting toppy here.
- JJN, NDAQ and PG are possibly forming a top in this area.
- PEP and TAP are setting up to break out in either an upward or downward direction.
- Anything posted here may be totally off base due to human error and market conditions.
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