- Yi: +20.63
- Moderately oversold: CALM
- Trying to hold falling trend line support: CNK
- Attempting to hold the 65 DMA: BGS
- Attempting to hold the 28 DMA: FL
- Up against rising trend line resistance: AMAT and AXP
- Moderately overbought: A, ATI, BB, CG, CSX, CSL, DBO, EBAY, GLW, GM
- Average overbought: CMI, $DJW, $DJTENG, GF
- Toppy: DBP and $GOLD
- A break out either way is on the way for: AVP and CSIQ
- 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