- Yi: +17.31
- Trying to bottom out: $SILVER
- Average oversold: EROS
- Moderately oversold: COW, $FTSE, $FXT, GDDY, HAS, KLIC, XLNX, XOM
- Trying to hold rising trend line support: $FXT and MRVL
- Attempting to hold the 65 DMA: SMH
- Attempting to hold the 28 DMA: USL and VFC
- Up against falling trend line resistance: GEF
- Up against rising trend line resistance: COF
- Moderately overbought: CAR, CMG, EYE, GEF, IYJ, JACK, $XOI
- Average overbought: CSX, DIS, PPC, X, XLE, XLY
- Toppy: SHAK
- Possible top here for: GF
- A break out either way is on the way for: AA, PRELF, ROK, TGS, YUMC
- 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