- Yi: +35.5
- Attempting to bottom out: JNPR, MCD, MSFT, MTH, NIB, NVDA, OLLI, PBI, QLD, QQQ, STMP, TROW, XLK, XLY, YYY, Z
- Average oversold: NIB
- Trying to hold some rising trend line support: BABA
- Trying to hold the 65 DMA: BCHG
- Trying to hold the 28: SPXU
- Up against the 28 DMA: AU, CNK, RYE, SU, $XOI, XOM
- Up against some falling trend line resistance: BMY, IBM, KLIC, PRU, SLV, UBER, XLE, $XOI
- Up against rising trend line resistance: FCX
- Moderately overbought: A, AIG, AMP, B, CAR, CAT, CMI, CSX, DFS, ETN, GEF, IP, ITW, LBAI, NEM, NSC, PNC, PPG, ROK, SNA, TAP, TGS, TKR
- Average overbought: GBTC
- A break out either way is on the way for: CLF
- 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.
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