- YI: +1
- Trying to bottom out: BPOP and GM
- Moderately oversold now: STP
- Trying to hold some rising trend line support: CAKE, OMN, and PTR
- Trying to hold falling trend line support: CDE and MEOH
- Attempting to hold the 28 DMA here: MSCC
- Trying to break above some falling trend line resistance: AMN, BHP, BMY, BVN, CHK, CMC, CSCO, ENER, JNJ, MOT, RMBS, SFY, and the XOI index.
- Attempting to break above the 28 DMA here: ABX, ACAS, AMZN, CORS, CSCO, NEM, SLV, the S&P-500, SWC, TMO, and XLK
- Moderately overbought now: ELY, GR, GYMB, HMY, LRW, LSI, MCRS, MTD, and PDE
- Standard overbought here: RIO and TZOO
- 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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