- Yi: + 45.06
- Attempting to bottom out: AU, EWA, INTC
- Moderately oversold: BMY, CORN, LOW, PPC, SDY
- Attempting to hold the 28: CPB, OMC
- Attempting to hold the 65: LMT, TKR, $VIX
- Up against the 65: DB, GF, $LUMBER, $XOI
- Up against the 28: COPX, FCX, OIL, $WTIC, XLB
- Up against falling trend line reistance: AA, $PLAT
- Moderately overbought: BGS
- Toppy: CNK, ETN, LIN, MAIN
- ABEWISUF: $DJW, ETHE, PYPL, QCOM, XOM
- 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