- YI: +4.5
- A possible bottom may be forming in this area for: SFY
- Trying to bottom out now: AMTD, SBUX, and SYMC
- Moderately oversold now: HMC, HPQ, and MOT
- Trying to hold some rising trend line support: BMY, MDC, NOK, TASR, and TTH
- Trying to hold some falling trend line support: SNDK
- Trying to break above some falling trend line resistance: AEM, AU, EOG, FCX, FTO, GLW, HMY, JOSB, MTU, RNR, WTS, and the XAU index.
- Attempting to break above the 28 DMA now: BAA, GOOG, and WDC
- Now up against some rising trend line resistance: EMC, GT, PLL, and XLK
- Moderately overbought now: AAPL, CAKE, CDE, FXE, MRVL, RGLD, SHI, TSM, USU, WMB, and WOR
- Standard overbought: NWL, PD, PHI, QQQQ, and SNA
- Extremely overbought: IWM, RIO, and TIE
- A possible top may be forming in this area for: BGF, OCR, and TSS
- Toppy here: IYM, JWN, SEE, and XLB
- To a sell: X
- 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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