- Yi: +23.25
- Attempting to bottom out in this area: AMAT, AMTD, GBTC, HD, INTC, MAN, TXN, WYND
- At the average oversold level: CC
- Moderately oversold: CORN, GS, MTSI, NDAQ
- Trying to hold rising trend line support: AHH and DUST
- Attempting to hold the 65 DMA: BMY and BRKS
- Attempting to hold the 28 DMA: IJR and USB
- Up against the 65 DMA: FCX, NFLX, TSN
- Up against the 28 DMA: ABX, PM, UL
- Up against falling trend line resistance: FNG, GE, NCR, $PLAT, TUP, WY, $XAU
- Up against rising trend line resistance: MSFT
- Moderately overbought: FAT, PYPL, SGGFF, $SUGAR, T
- At the average overbought level: ETN, HRL, JNJ, MED, SNA
- Getting toppy: CHD
- Going parabolic: QCOM
- A break out either way is on the way for: I and SCHH
- 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