- Yi: +70.23
- Trying to bottom out: AEM, AU, BWA, CL, GPC, JACK, KDP, NEM, RGLD, SIL, SLVO
- Moderately oversold: MU
- Attempting to hold the 28 DMA: MCO, UIS, XLK
- Attempting to hold the 65 DMA: MRVL, WDC
- Up against the 28 DMA: GIS, IYE, MGA, PBI, XLE, XOM
- Up against some falling trend line resistance: AEO, IP
- Moderately overbought: ADM, BBY, BNS, CUT, FCX, IR, MAIN, SCHD, TD, $UST30Y
- Overbought: KR, MS, $SUGAR, TSN
- Extremely overbought: ETN
- Toppy: A, MSI, SCHW, TROW
- A break out either way is setting up for: ALEX, MJ, WEC, WU
- 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.
No comments:
Post a Comment