- YI: +5
- Trying to bottom out: IDA and WTS
- Moderately oversold now: AMTD
- Trying to hold some rising trend line support: ABX, DO, FTO, HMY, NX, PHG, PLL, RGLD, RIG, and SYMC
- Attempting to hold the 28 DMA here: HMC, NST, and OGE
- Trying to break above some falling trend line resistance: AIG, CREE, MDC, Q, WGII, and XMSR
- Attempting to break above the 28 DMA here: DELL and LSI
- Now up against some rising trend line resistance: BGF, GYMB, JCP, and MDC
- Moderately overbought now: QCOM and THQI
- Standard overbought: HIT, NXL, WHR, and YHOO
- Extremely overbought: BKC, XLF, and XLP
- Toppy here: EWI
- A break out in either direction is on the way for: NX
- To no position for now: IDU and PEG
- 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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