- Yi: +16.2
- Attempting to bottom out at this level: AIG, AVAV, CAR, CAT, $DJW, $HGX, IJR, IWM, IYE, LM, LPL, MAT, MCHP, MDY, MET, MRVL, NOV, $NYA50R, PRU, RRGB, RYE, SWK
- Extremely oversold: AMZN, AQUA, MRVL, RRGB
- At the average oversold level: GOOG. HPE, LMT, LOW, $NDX, NFLX, NS, QLD, SPWR
- Moderately oversold: AXP, GDDY, MSI, P, SIL
- Trying to hold rising trend line support: AEM, AGQ, GCX, NUGT, $SILVER, SIVR
- Attempting to hold the 65 DMA: I
- Attempting to hold the 28 DMA: GFI
- Up against the 28 DMA: GT, KOLD, MDC, MTH, PPG
- Moderately overbought: CTB, F, MMC
- A break out either way is on the way for: HAS
- 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