- Yi: 67.7
- Moderately oversold: FLO, MKC
- Trying to hold some rising trend line support: GIS, KDP
- Trying to hold some falling trend line support: HLR
- Attempting to hold the 28 DMA: CLX, SOYB, VXX, WEC
- Up against the 28 DMA: AIG, BITW, CAR, MTSI, OIL, PING, QSR, VOX, XRX
- Up against the 65 DMA: CG, JNPR, QCLN, VGK
- Up against some falling trend line resistance: AMAT, AMP, BBL, $BTCUSD
- Up against rising trend line resistance: $COTTON, ETN
- Moderately overbought: $CRB, DBA, FAST, HD, IYJ, LIN, MRVL, MS, $NDX, $SPX, VOT, XLK, XLY
- At the average overbought level: NDAQ, REMX
- A break out either way is setting up for: AU, UNH
- Anything posted on these pages may 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