- Yi: +16.21
- HBI is possibly forming a bottom here.
- CORN, FCX, JNUG and MTSI are attempting to bottom out.
- AGX, AIG, $DJTENG and NOV are moderately oversold.
- MED is attempting to hold the 65 DMA.
- $GASO is attempting to hold the 28 DMA.
- DWDP and EROS are up against the 28 DMA.
- BABA is up against falling trend line resistance.
- A is up against rising trend line resistance.
- ANF, CALM, FL and FLO are moderately overbought.
- DB is at the average overbought level.
- AXP is setting up to break out either up or down.
- 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