- Yi: +64.68
- Moderately oversold: CL, FLO, IDA
- Trying to hold rising trend line support: ALEX
- Attempting to hold the 65 DMA: B and PEP
- Up against the 28 DMA: AA, DBI, DE, FL
- Up against the 65 DMA: HD and VFC
- Up against falling trend line resistance: GT, PPC, TPR
- Up against rising trend line resistance: DBO, ROK, TROW
- Moderately overbought: CMG, ROK, TGT, UGA
- Average overbought: CG, PFF, QLD
- A break out either way is setting up for: $COFFEE, CSIQ, CVS, GDX, GE, GFI, GILD, GLD, GOLD, HPE, IBM, NSC, PAG, PG, RS, RTX, $SILVER, TAP, TD, THO, TKR, TTM
- 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