- Yi: +15.72
- Trying to bottom out: B, CAR, CLF
- Moderately oversold: CG
- Trying to hold rising trend line support: CRUS
- Attempting to hold the 65 DMA: BB, C, COW and CPER
- Moderately overbought: BGS and CAKE
- Setting up to break out up or down: BMY
- 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