- Yi: +19.95
- Attempting to bottom out: TLRD
- Average oversold: $UST30Y
- Moderately oversold: AQUA, BAC, BMY, BWA, HAS, JPM, LM, MAN, MET, MGA, TILE
- Trying to hold rising trend line support: BABA, FEU, NOV
- Attempting to hold the 65 DMA: BRKS, FL, FLR, GS, HPE, IYG, KLIC, MAT, NCR, PRU, TKR
- Attempting to hold the 28 DMA: AMAT, FNDF, GF, IJR, IQV, JCP, JNJ, MJ, MRVL, NOW, NS, SCHB
- Moderately overbought: BBBY, LEN, MTH, NUGT, PPC, SIL, TAP
- Average overbought: DRI
- Toppy: DRI
- A break out either way on the way: ALL and HMC
- 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