- YI: +5
- To a buy: CBK and QLGC
- Trying to bottom out: AMD
- Moderately oversold: MRVL
- Trying to hold rising trend line support: DJ, EMC, PLT, and STX
- Attempting to hold the 28 DMA here: MRK
- Trying to break above falling trend line resistance: AAUK, ABX, ADP, BHI, CLG, EWU, SGP, STMP, and SUN
- Attempting to break above the 28 DMA here: BAC, BHI, CSTR, ELN, and RDC
- Now up against some rising trend line resistance: ACAS, EWJ, JCP, SEE, SFY, TOL, and TTH
- Moderately overbought: ACF, AEM, ASA, AU, BA, BMY, CAKE, CAT, DO, EOG, EWD, and IBM
- Standard overbought: EWP, PCU, RIO, SLV, and WTS
- Extremely overbought: X
- A break out in either direction is on theway for: GT
- 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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