- YI: 0
- To a buy: NFI
- Trying to bottom out: JCP, MTH, RYL, and WDC
- Standard oversold: CORS and PXD
- Moderately oversold: ALD, ERS, KEY, MEOH, PNRA, and UGP
- Trying to hold some rising trend line support: FRO, HIT, and RGA
- Attempting to hold the 28 DMA here: Q and WIRE
- Trying to break above some falling trend line resistance: AAPL, BKC, CFC, CMC, GM, GOOG, GR, JNJ, KGC, SHI, WHR, and XMSR
- Attempting to break above the 28 DMA here: EWJ, SNDK, and TIE
- Now up against some rising trend line resistance: SWC and TASR
- A possible top may be forming in this area for: GT
- A break out in either direction is on the way for: BHI
- Anything posted here may 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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