- Yi: +26.52
- Possible bottom here for: WEC
- Trying to bottom out at this level: AKAM, IAU, $GOLD, KO, O, PEP, $PLAT, PPLT, SLV, UBER, UGLD
- Extremely oversold: CSIQ
- At the average oversold level: LL
- Moderately oversold: CNK, JJNTF, MCHP, SOYB
- Trying to hold rising trend line support: WEN
- Attempting to hold the 65 DMA: AEM and GPC
- Attempting to hold the 28 DMA: DBI, DE, DRI, PBI, PFE, UNG
- Up against the 65 DMA: KOLD
- Up against rising trend line resistance: MMC and MSFT
- Moderately overbought: LMT, PPC, TSN
- At the average overbought level: MRVL
- Getting toppy: CPRI, ETN, HMC, NTAP, TKR, TSLA, UYG
- A break out either way is setting up for: BAC, CORN, GBTC, JWN, KLIC, M, MCO, NVDA, TWTR, $WTIC
- 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