- Yi: + 50.58
- Attempting to bottom out: QID
- Up against the 65: AA, AIG, AXP, CLF, CSL, DB, JPM, MET
- Up against the 28: BBY, C, CAR, CAT, GF, GM, HBI, IWM, NCR, SPWR, TKR, VFC, WHR, XRX, YYY
- Up against falling trend line resistance: BITQ, F, MED
- Moderately overbought: ACVF, ANF, APD, CNK, DBO, $DJW, GLW, $HGX, IYJ, MAT, NOBL, OIL, RGR, SCHB, SCHX, SDY, $SPX, STX, VOT, $WTIC, XLB, XMMO
- Overbought: CSCO, MSFT, $NDX, QQQ, $SILVER, XLK
- Toppy: PEG
- 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