- Yi: +14.34
- Attempting to bottom out in this area: MAD and PETX
- At the average oversold level: D
- Moderately oversold: DM, KOLD, NEM
- Trying to hold falling trend line support: TLRD
- Up against the 28 DMA: SPWR and UNG
- Moderately overbought: F, FLR, NOV, NSC, NVDA, PRU, PTEN, RGR, TGS, TILE, TPX, TSLA, WHR
- At the average overbought level: SNA
- Toppy: HMC and MJ
- A break out in either direction is on the way for: AXP, JNJ, NUS, WFC
- 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