- YI: +1.5
- Trying to finally bottom out in this area is: NFI
- Standard oversold at this point is: MDC
- Moderately oversold: AIG, BAC, the DJ-30, SLE, the S&P-500, TMO, the VXO, and XLE
- Trying to hold some rising trend line support: AAUK, AEM, ALD, BA, COP, DVY, EOG, EWI, EWP, FTO, HMC, IIT, INTU, JOSB, JWN, KMX, LMT, NOK, NWL, PCU, RFMD, SLV, SNA, STX, TOL, TTH, and YHOO
- Trying to hold falling trend line support: ABX, CGI, DELL, ERIC, and NSC
- Attempting to hold the 28 DMA here: AA, ADP, BGF, BKC, CAT, CMI, CY, IYM, MTD, PD, USU, and XLB
- Moderately overbought at this point: BAA
- Standard overbought: TXU
- 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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