- Yi: + 57.6
- Attempting to bottom out: BNS, HBI, MED, VGK, YETI
- Moderately oversold: T
- Attempting to hold the 28: HD, M, MKC
- Attempting to hold the 65: DBI, IBM
- Trying to hold rising trend line support: CSCO, M
- Up against some falling trend line resistance: CAKE
- Up against rising trend line resistance: $CRB
- Moderately overbought: IYE, SU, $UST30Y
- Overbought: JO, NTAP
- Toppy: UUP
- ABEWISUF: BITO, BITW, COIN, HRB, $PLAT, VNO, WGMI
- 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