- Yi: +33.3
- Possible bottom here for: BGG
- Attempting to bottom out in this area: F, SNA, TLRD, TUP, UNG, $WTIC
- Moderately oversold: WEAT
- Attempting to hold the 28 DMA: IDA and YETI
- Up against the 65 DMA: WY
- Up against the 28 DMA: CC, HPE, KHC
- Up against falling trend line resistance: CBRL, HPE, CVS, IP, PAG, ROK, STX, WOR
- Up against rising trend line resistance: AGX, AMAT, AMP, ETN, NVDA, XLK
- Moderately overbought: BA, CANE, GE, MET, QSR
- At the average overbought level: HD
- Getting toppy: AIG, CL, DRI, LMT, LEN, NIB, PM, YYY
- A break out either way is setting up for: $PLAT and TSLA
- 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.
No comments:
Post a Comment