- YI: +5
- Trying to bottom out: The dollar.
- Attempting to hold the 28 DMA here: EXP and F
- Trying to break above some falling trend line resistance: AMN, ERF, NSM, OMN, SNA, STX, and SYMC
- Attempting to break above the 28 DMA: SMTC and WDC
- Now up against some rising trend line resistance: AU and BGF
- Moderately overbought now: BMY and NBR
- Standard overbought: EWU, MRK, RDC, TMO and the VXO
- Extremely overbought: FXE and SU
- A possible top may be forming in this area for: SGP
- Toppy here: NOK, USU, and XLP
- A break out in either direction is on the way for: IDA, NSM and WIRE
- To no position for now: BHP
- 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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