- Yi: +21.15
- Possible bottom here for: MJ
- Attempting to bottom out: REMX
- Moderately oversold: RSX
- Trying to hold rising trend line support: TAP
- Attempting to hold the 28 DMA: CAR, D, HAS, PEP, PM, TGS
- Up against the 65 DMA: CALM
- Up against falling trend line resistance: EROS and EWA
- Up against rising trend line resistance: AMZN
- Moderately overbought: AET, CSCO, CSIQ, HPQ, IRBT, MSFT, QRTEA
- Average overbought: CMG, CREE, SFTBY
- Getting toppy: GOOG, KR, SCHD, $SPX
- A break out either way is on the way for: 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