- YI: +3.5
- To a buy: NTES and RFMD
- Trying to bottom out now: HMC, PNRA, ROK, SBUX, SNA, and WB
- Standard oversold: CHC, OMN, and RT
- Moderately oversold: AIG, CAKE, and YHOO
- Trying to hold some rising trend line support: AMN, ARM, ASA, EWG, EWJ, GFI, IWM, IYR, INTU, NSM, NST, QQQQ, SEE, the S&P-500, and TXU
- Trying to hold falling trend line support: MOT and VZ
- Attempting to hold the 28 DMA here: AAPL, BMY, CAT, GOOG, IBM, PDA, PLL, Q, and SNDK
- Trying to break above some falling trend line resistance: CPB and DELL
- Attempting to break above the 28 DMA here: AMD and RADN
- Up against some rising trend line resistance: WMB
- Moderately overbought now: AMAT, COP, and RNR
- Standard overbought: AA
- Extremely overbought: USU
- A possible top may be forming in this area for: 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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