- Yi: +13.53
- Trying to bottom out: ORCL and SEE
- Moderately oversold: AET, ABX, BBY, WFC
- Trying to hold falling trend line support: BGS
- Attempting to hold the 28 DMA: AMZN and PPC
- Up against falling trend line resistance: DUST
- Up against rising trend line resistance: AFL and PG
- Moderately overbought: AXP, C, FAST, GLW, JPM, MANT, MET, NOV, PPG, SMG
- Average overbought: CAT, $DJW, I, ROK
- Extremely overbought: EROS
- Toppy here: A, AFL, AXP, BABA, FEU, GF, ITW, KSS, MU, POT, SCHD, SYMC, XLNX
- A possible top here for: EWI
- A break out either way is on the way for: JACK, LL, MAIN, NUS
- 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