- Yi: +39.9
- Attempting to bottom out: QID, $VIX
- Up against the 28 DMA: RGLD
- Up against the 65 DMA: NTES
- Up against falling trend line resistance: IYG, JPM
- Up against rising trend line resistance: ADM, CAT
- Moderately overbought: AAPL, GBTC, GIS, GOOG, HSY, $INDU, IP, IQV, IYG, KDP, MKC, MSFT, MU, NTAP, ORCL, VOX, XLK, XLY
- Average overbought: AMAT, AVGO, CAT, CL, GEF, GS, NDX, PG, QLD, QQQ, SCHX, $SPX, SWK, TXN
- Getting toppy: AMAT, BBY, CMI, D, EWA, GM, HBI, IWM, IYJ, MCHP, MET, MGA, MSI, NOBL, PPG, REMX, ROK, SCHD, SDY, UYG, WEC, WOOD
- A break out either way is on the way for: MRK, PFE
- 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.
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