- YI: +5
- To a buy: AMD
- Trying to bottom out: BAA and LSI
- Trying to hold some rising trend line support: AU and PBY
- Trying to hold falling trend line support: AMDT and MSCC
- Attempting to hold the 28 DMA here: ARM, CSCO, TMO, and USU
- Trying to break above some falling trend line support: ASA, ECA, FCX, MTU, and XMSR
- Attempting to break above the 28 DMA here: HMY and SU
- Now up against some rising trend line resistance: CY and X
- Moderately overbought now: APPB, BKS, and TXU
- Standard overbought: ABX and PEG
- Extremely overbought: XLB
- A possible top may be forming in this area for: LMT
- A break out in either direction is on the way for: FTO
- Anything posted here 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.
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