- Yi: + 55.65
- Attempting to bottom out: CG, MDC
- Oversold: JWN
- Moderately oversold: GLW, KODK, LIN, $LUMBER, RY, STX, TWTR
- Trying to hold some rising trend line support: AEO
- Attempting to hold the 28: BBBY, CANE, G, GEF, $INDU, IR, ITW, QRTEA, $SPX, XRX
- Attempting to hold the 65: CIEN, CL, CSX, DBI, HD, MMC, MRK, PEG, VLY
- Up against the 65: BABA, ETHE
- Up against the 28: TAP, QID
- Up against some falling trend line support: BIDU
- Moderately overbought: CORN, SOYB, XOM
- ABEWISUF: AMAT, WHR
- 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