- Yi: +26.46
- Attempting to bottom out: AU, CSIQ, IDA
- Moderately oversold: SCHH
- Trying to hold rising trend line support: DRI, MMM, TLRD
- Attempting to hold the 65 DMA: D and SOYB
- Attempting to hold the 28 DMA: AMZN, FL, $GASO
- Up against the 65 DMA: QRTEA
- Up against falling trend line resistance: FXP
- Up against rising trend line resistance: ALL and NTAP
- Moderately overbought: BA, CAR, $COTTON, LOW, NIB, SMG
- At the average overbought level: HMC
- Extremely overbought: ROK
- Getting toppy: T and WFC
- Possible top here for: BBY, BMY, BWA, CMI, HMC, HPE
- A break out either way is setting up for: AA, AEM, AMTD, ANF, BAC, CAT, CC, FLR,$INDU, IR, KMB, PAYX, PTEN, SMH
- 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