YI: +4.5
Trying to bottom out in this area: CUP and ENR
Moderately oversold at this point: BHI, CLG, CREE, and INTU
Trying to hold some rising trend line support: BBBY, EWP, HMC, and the YI.
Attempting to hold the 28 DMA here: DELL and IFN
Trying to break above some falling trend line resistance: AA and the dollar.
Moderately overbought now: GE
Extremely overbought: The BTK index.
A possible top may be forming in this area for: EBAY and LMT
I will try to post the rest of today's S&O's before the close.
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.
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