- YI: +4.5
- Trying to bottom out: BHI
- Standard oversold: FBR
- Moderately oversold: KO and RDC
- Trying to hold some rising trend line support: ADP, CUP, ECA, ELN, EWP, KMX, PTR, RMBS, SFY, SU, and TOL
- Trying to hold falling trend line support: MU
- Attempting to hold the 28 DMA here: DJ and TXU
- To a hold for now: AMD and NFI
- Trying to break above some falling trend line resistance: AMZN, MRVL, NG, SIFY, and TASR
- Now up against some rising trend line resistance: ALEX and NX
- Moderately overbought: CBK, NTES, PNRA, and STMP
- Standard overbought: The IIX index, LYO, MCRS, and OCR
- Extremely overbought: GR and TSS
- Toppy here: BBBY, the BKX index, the DJ-30, EWA, EWG, SNE, and the S&P-500.
- A break out in either direction is on the way for: The BTK index, CHK, REF, and the XOI index.
- To no position for now: CBK
- 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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