- YI: +4
- Moderately oversold now: The DRG index, MRK, SGP, SYY, and TOL
- Trying to hold some rising trend line support: BMS, MDT, SHI, and TMO
- Attempting to hold the 28 dma here: GM
- Trying to break above some falling trend line resistance: AMD, COP, GFI, GG, HIT, SBUX, and WDC
- Attempting to break above the 28 DMA here: DO and ENER
- Now up against some rising trend line resistance: IRF
- Moderately overbought at this point: AEM, AMAT, CREE, FCX, FTO, LSS, MDT, MSCC, NSM, NVLS, PDE, PLT, PMCS, RIG, SMH, and SUN
- Standard overbought now: ASA and KGC
- A possible top may be forming in this area for: CY
- Toppy here: ALEX, MCD, NX, SMTC, and WGII
- To a sell: CLF
- To no position for now: XLU
- Anything posted here could be of 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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