- YI: +1
- Trying to hold some falling trend line support: DELL
- Trying to break above some falling trend line resistance: AMD, AMZN, BMS, CAKE, CAT, CHK, ELY, ENR, FTO, GFI, GYMB, IIT, IRF, LMT, MTH, NVLS, TZOO, UGP, and the XCI index.
- Attempting to break above the 28 DMA here: BA, BHP, BMY, EWD, EWG, HPQ, RADN, SIFY, TYC, the XNG index, and the XOI index.
- Now up against some rising trend line resistance: COP and EWP
- Moderately overbought now: GR, SKS, and the VXO
- Standard overbought: NX
- Toppy here: PLL
- 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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