- Yi: +14.15
- Possible bottom here for KMB
- Moderately oversold: JJN, P, WOR
- Trying to hold falling trend line support: $VIX
- Attempting to hold the 65 DMA: HSNI
- Attempting to hold the 28 DMA: MAIN, SOYB, STMP
- Up against the 28 DMA: HRB
- Up against the 65 DMA: SNAP
- Up against falling trend line resistance: DNKN, $FTSE, M, NUS
- Moderately overbought: AGX, DNB, FAST, EGPT, JACK, KLIC, MED, MKC, MTH, NDAQ, TPX, XOM
- Overbought: IJH, IYE, TROW, TXN
- Getting toppy: DFS, MAN, PAG, POT, RAIL, XRX
- A break out ether way on the way for: BNS, SFTBY, STX
- 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