- Yi: +69.8
- Possible bottom here for: CPB, HRL
- Attempting to bottom out: AU, CLX, PPLT
- Oversold: APD, $GOLD, $PLAT, SLVO, SLV
- Moderately oversold: BWA, KMB, RGLD
- Attempting to hold rising trend line support: USOI, $WTIC
- Attempting to hold the 28 DMA: BBY, CG, COPX, PM
- Attempting to hold the 65 DMA: $GASO
- Up against the 65 DMA: DBI, IP, OMC
- Up against the 28 DMA: TD
- Up against some falling trend line resistance: NTAP, WDC
- Up against rising trend line resistance: CANE
- Moderately overbought: AVAV, IYG, MET, NTAP, PEG, RY, SCHW, $USD, UYG
- Overbought: AMP, GS
- Toppy: HRB, IDA, $SPX, TPR, VOT, YUM
- A break out either way is setting up for: AMAT, CIEN, ETN
- 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