- YI: +2.5
- A possible bottom may be forming in this area for: INTU
- Trying to hold some rising trend line support: CSCO, GLW, the IIX index, IRF, NX, PLT, and TMO
- To a hold for now: BPOP
- Trying to break above some falling trend line resistance: BHI and LSS
- Attempting to break above the 28 DMA here: IDA
- Now up against some rising trend line resistance: ALEX, GYMB, and OXY
- Moderately overbought: LUFK, MCD, MMC, RGLD, and RMBS
- Toppy here: CMI, GR, MTD, and PBY
- Anything posted here may 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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