- Yi: +32.13
- Possible bottom here for: BGG
- Attempting to bottom out in this area: FLR, HA, NUS
- At the average oversold level: RS
- Moderately oversold: AFL, CG, CSCO, HRL, JNJ, LMT
- Trying to hold rising trend line support: BMY and MCD
- Attempting to hold the 65 DMA: MMC and PEP
- Attempting to hold the 28 DMA: BYND, IYJ, NVS
- Up against the 65 DMA: NTR
- Up against falling trend line resistance: DBI, GIS, T
- Moderately overbought: AU, CAKE, CIEN, JWN, MANT, RRGB
- At the average overbought level: RGR
- Getting toppy: CAR, $GASO, SHAK, UIS
- Possible top here for: YYY
- A break out either way is setting up for: IRBT, STX, RSX
- Anything posted on these pages 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