- Yi: +79.8
- Attempting to bottom out at this level: ORCL
- Moderately oversold: NDAQ, TROW, WEAT
- Trying to hold some rising trend line support: IQV, MMC, WEAT
- Attempting to hold the 28 DMA: FAST, HD, LIN, $NDX, NTR, $PLAT, QLD, QQQ
- Attempting to hold the 65 DMA: WEC
- Up against the 65 DMA: SPWR
- Up against the 28 DMA: JO, MJ
- Up against some falling trend line resistance: HRB, MET
- Up against some rising trend line resistance: CPB, FLO
- Moderately overbought: GT, HNI, HRL, IWM, KLIC, MANT, MGA, NTAP, NYCB, RGR, RYE, TSM, TUP, WOLF, XLE, $XOI, XOM, YYY
- Overbought: BNS, TD, WBA
- Toppy: BNS
- A break out either way is on the way for: AEO, D, NVS
- 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.
No comments:
Post a Comment