- YI: +5
- Moderately oversold now: MMC
- Trying to hold rising trend line support: AMZN, EWJ, GM, PCU, PD, RIO, VZ, WMB, WOR, and WTS
- Attempting to hold the 28 DMA here: PHI
- To a hold for now: QLGC
- Trying to break above falling trend line resistance: BKS, OGE, PMCS, WB, and WON
- Attempting to break above the 28 DMA here: SIFY
- Now up against some rising trend line resistance: GT
- Moderately overbought now: ACF, BHI, BPOP, CHC, CPB, GRZ, heating oil, IFN, the IIX index, OCR, and RMBS
- Standard overbought: CMI
- A possible top may be forming in this area for: XLF
- Toppy here: TMO
- Probable top here for: TSS
- A break out is on the way for: SU
- 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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