- YI: +1
- Trying to bottom out: AMN, CFC, IYR, MDC, and RNR
- Standard oversold: IRF and TOL
- Moderately oversold: AEM, ALD, BBBY, the BKX index, CPB, the DRG index, OMN, and WB
- Trying to hold some rising trend line support: AIG, CSTR, DELL, GPC, QLGC, ROK, and SVU
- Trying to hold falling trend line support: HMC, NTES, and WDC
- Attempting to hold the 28 DMA here: AVP, DVY, the OEX index, QQQQ, SBUX, SNE, and the S&P-500
- Now up against some rising trend line resistance: BKS and THQI
- Standard overbought: OXY and SU
- Toppy here: PXD
- 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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