Tuesday, March 23, 2010

S&P500 Index: Ratio Overbought to Oversold is 30:1

The S&P500 started the day significantly overbought yesterday, and ended the day even more overbought:

The average RSI7s are currently:

  • short term: 64.34 (vs. 61.42 yesterday)
  • medium term: 66.62 (vs. 64.63)
  • long term: 64.86 (vs. 62.84)
That is an average increase of 3.67%.

In terms of overbought versus oversold:

Number of oversold companies:

  • short term: 15 (yesterday: 16)
  • medium term: 3 (yesterday: 5)
  • long term: 1 (yesterday: 1)
Overbought:

  • short term: 192 (yesterday it was 164); most overbought is CTAS
  • medium term: 218 (yesterday: 178), most overbought is EL
  • long term: 157 (yesterday: 146), most overbought is MJN
On average the ratio overbought to oversold is now a gigantic 29.8.

The two worst companies in terms of our favorite RSI-A are MYL and MIL, both related to the health sector.

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics