- YI: +5
- To a buy: KMX and MRVL
- Trying to hold some rising trend line support: AAPL, PDE, TIE, and TYC
- Attempting to hold the 28 DMA here: GNSS and Q
- To a hold for now: XMSR
- Trying to break above some falling trend line resistance: AEM, AIG, BHI, BPOP, CAT, CDE, DO, FBR, HMY, IDA, LRW, MER, MOT, SBUX, and TLB
- Attempting to break above the 28 DMA here: ARM, BKX, CORS, MTH, RGLD, RYL, SPC, TOL, and WDC
- Now up against some rising trend line resistance: ABX, BBBY, ERIC, GOOG, GOC, NX, and OCR
- Moderately overbought here: ACAS, ACF, BMS, C, CLG, CSCO, CSL, DELL, GG, IFN, the IIX index, INTU, JNJ, JPM, NEM, PG, REDF, WHR, WTS, and XLF
- Standard overbought: ALEX, AMZN, ASA, CTCI, CY, the DRG index, EMC, ENER, EWX, IWM, PLT, QQQQ, the S&P-500, and WOR
- Extremely overbought: The BTK index, EWD, EWI, EWU, PHG, PLL, SGP, and USU
- A possible top may be forming here for: EOG and IYM
- Toppy here: EBAY, GLW, KGC, NLY, NOK, and TMO
- A break out in either direction is on the way for: BKS, EWJ, and WON
- More later. 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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