- YI: +1.5
- To a buy: INTU
- Trying to bottom out now: JNJ and RADN
- Trying to hold some rising trend line support: CHC, CPB, ENER, FDP, GRZ, IDA, KEA, KO, LRW, LUFK, NOK, Q, RDC, and TKR
- Trying to hold falling trend line support: AMN
- Trying to break above some falling trend line resistance: ECA, FRO, and the VXO
- Attempting to break above the 28 DMA here: CDE, PTR, and QLGC
- Now up against some rising trend line resistance: MU
- Moderately overbought: CBK, CSTR, EBAY, ECA, IIT, OGE, PHI, and PTEN
- Standard overbought now: The XOI index.
- Toppy here: BHP and SNDK
- 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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