- YI: +4.5
- Trying to bottom out: MTU
- Moderately oversold now: FCX
- Trying to hold some rising trend line support: The DRG index, NG, PDE, RGLD, WHR, XLP, and the XOI index.
- Attempting to hold the 28 DMA here: ACAS, CAKE, the dollar, KMX, SEE, SPC, and SUN
- Trying to break above some falling trend line resistance: AAUK, BAC, EWD, HMC, JNPR, STX, TASR, and TKR
- Attempting to break above the 28 DMA here: IDA
- Now up against some rising trend line resistance: JCP
- Moderately overbought now: AVP, CSCO, GLW, RFMD, TXU, and WB
- Standard overbought: TIE and XLU
- Extremely overbought: LMT and WY
- A possible top may be forming in this area for: RIO
- Toppy here: ACF, PBY, and PEG
- A break out in either direction is on the way for: AU, C, GG, and HMY
- Anything posted here could 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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