- Trying to bottom out now: FBR
- Moderately oversold: WTS
- Trying to hold some rising trend line support: KO
- Trying to break above some falling trend line resistance: IIT, JNPR, the OEX index, PDE, PG, SBUX, SMH, WOR, and the XOI index.
- Trying to break above horizontal trend line resistance: CUP
- Attempting to break above the 28 DMA here: BMS, C, GE, and MER
- Now up against some rising trend line resistance: BBBY, GG, JWN, NX, and RIO
- Moderately overbought now: ALD, AMAT, ASA, BAC, EBAY, MFE, MTU, NG, PHG, SIFY, VZ, WGII, and the XAU index.
- Standard overbought now: AAUK, BKC, CAT, CLG, CMI, EWJ, GPC, MCRS, NOK, RI, and SEE
- Extremely overbought: ADP, IYM, PCU, and SNE
- Toppy here: CLF and SKS
- To a sell: IDU, PEG, and XLU
- A break out in either direction is on the way for: AAPL, AIG, HPQ, and QLGC
- 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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