- Yi: +19.62
- Possible bottom for: RAIL
- Attempting to bottom out: CW, JACK, PETX, SOYB
- Attempting to hold the 28 DMA: AQUA
- Up against the 28 DMA: AMAT, DRI, MJ, RSX
- Up against falling trend line resistance: AMZN, COPX, NTAP, RRGB
- Up against rising trend line resistance: AEM, $NDX, PYPL, QLD
- Moderately overbought: AGX, COWTF, NUGT, PEGI
- Average overbought: GOOG and MSFT
- Toppy: ANF, CMG, CMI
- A break out either way on the way: HAS and I
- Anything posted 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