- Yi: +17.7
- Possible bottom here for: BIDU, BR, COPX, LPL, REMX
- Attempting to bottom out at this level: AA, CLF, EQIX, FNG, FSLR, IFN, KOL, LOW, MCO, MJ, MRVL, MU, SOYB, SVXY, SYMC, UTX, XSO, X, $XOI
- Extremely oversold: GE and IBM
- At the average oversold level: CHK and EQIX
- Moderately oversold: $COPPER
- Trying to hold rising trend line support: GDX, QID, SPXU
- Attempting to hold the 28 DMA: BJO, DBA, WEC
- Up against the 65 DMA: DAL, ITW, NSC
- Up against the 28 DMA: ALL, AMTD, BBBY, GT, HA, IP, MBI, STMP, TRV, USB
- Up against falling trend line resistance: AVAV, BA, BBY, COST, CMI, CSX, GS, INTC, JACK, MAT, MS, NOK, $NDX, QQQ, QLD, SMH, WFC, WHR, YUM
- Up against rising trend line resistance: MKC and MRK
- Moderately overbought: CMG, DAL, GM, HSY, JWN, KDP, KR, MMC, NCR, OLLI, TAP, UGP
- At the average overbought level: KO, $USD, UUP
- A break out either way is on the way for: AEM
- 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.
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