- YI: +0.5
- Standard oversold: MDT
- Trying to hold some rising trend line support: ERIC, GE, GGB, JWN, PHG, RHT, RI, SNA, TYC, WHR, and XMSR
- Trying to hold falling trend line support: THQI
- Trying to break above some falling trend line resistance: ERS, MU, OXY, and SPC
- Moderately overbought: SFY
- Standard overbought: PXD
- A possible top may be forming here for: EOG
- Toppy here: ECA, FCX, and HIT
- A break out in either direction is on the way for: CAKE, DJ, and F
- 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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