- Yi: +23.38
- Attempting to bottom out in this area: ANF, BJO, JACK
- At the average oversold level: CORN
- Moderately oversold: BGS and TILE
- Attempting to hold the 28 DMA: CANE and $SUGAR
- Up agaInst the 28 DMA: AEM, GFI, NUGT, WYND
- Up against falling trend line resistance: CG, PX, WDC, $XOI
- Up against rising trend line resistance: SBUX, TRV, WBA
- Moderately overbought: AIG, ATI, AGX, AVP, BA, COWTF, IRBT, MAT, LMT, PX, SMG
- At the average overbought level: IYJ, NSC, PFE
- Extremely overbought: MJ
- Getting toppy: CLX, CLF, CVS, CW
- Possible top here for: AVAV
- A break out either way is on the way for: BBGI, DAL, EBAY, $HGX
- 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