- Yi: +13.23
- A possible bottom for: GE
- Trying to bottom out at this level: SBUX, SHAK, SPWR
- Attempting to hold the 28 DMA: JJN and TGS
- Up against the 28 DMA: CMG and MOS
- Up against the 65 DMA: CAKE
- Moderately overbought: AMAT, BIDU, BNS, BWA, CAT, CG, CVY, EFV, GDDY, HMC, HSNI, IJH, IWM, IYJ, JACK, MKC, MDLOX, MDY, MGA, MKC, NOV, NFLX, ORCL, PAYX, PTEN, QVCA, SMH, TILE, TWTR, SU, XLB
- Average overbought: ANF, CVS, EROS, KSS, MU
- Toppy here: CWI, $DJW, FEU, FNDF, HBI, SWK, V, VGK, VOT
- A possible top here for: BR
- A break out in either direction is on the way for: AVAV, RS, Q
- Anything posted here 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