- Yi: +20.81
- Moderately oversold: $CRB and FXF
- Trying to hold rising trend line support: ABX and KSS
- Trying to hold falling trend line support: CSCO
- Attempting to hold the 65 DMA: CHK and CNK
- Attempting to hold the 28 DMA: DB and TAP
- Up against the 28 DMA: NDAQ
- Up against falling trend line resistance: CMI
- Up against rising trend line resistance: AMZN and GOOG
- Moderately overbought: BIDU, FB, GDDY, HD, IBM, $NDX, PM, PYPL, QLD, VFC, XLK, XLY
- At the average overbought level: KDP, MCO, NOW, SFTBY, V
- Getting toppy: AXP
- A break out up or down is setting up for: CREE, CSX, EGPT, FL, GM, JCP, SPWR
- Anything posted on these pages 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