- Yi: +12.3
- Attempting to bottom out in this area: CAKE and MTSI
- Moderately oversold: BBL and $VIX
- Attempting to hold the 65 DMA: BGS and COWTF
- Up against the 65 DMA: A, CAT, GILD, GOOG, GS, KLIC, LOW, MMC, MMM, OILU
- Up against the 28 DMA: AA, ALL, AMP, BAC, CMI, DBO, DNKN, FLR, IP, IWM, IYE, IYG, JPM, MAIN, MCD, MED, NCR, OILNF, PRU, SMG, SU, USL, USO, WOOD, $WTIC, X, XLB, XLE, $XOI
- Up against falling trend line resistance: APD, DIS, HD, I, ORCL, NTR, QRTEA, SCHW, SFTBY, STMP, T, TILE
- Moderately overbought: CC, CSIQ, DE, FSLR, MDC, PAG, PETX, PPLT, PYPL, S, VOX
- Average overbought: FL
- Anything posted here 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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