- Yi: + 62.4
- Attempting to bottom out: CMG
- Oversold: B, COPX, D, $XAU
- Moderately oversold: AIG, BAC, BBY, BEN, $CRB, $GASO, LMT, M, NOBL, NYCB, RIOT, SDY
- Trying to hold some rising trend line support: AFL, CAKE
- Trying to hold some falling trend line support: CPB
- Attempting to hold the 28: MET, PG, WBD
- Attempting to hold the 65: CAT, GE, GOOG, MARA, STX
- Up against the 65: QRTEA
- ABEWISUF: HBI
- 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