- YI: +5
- Moderately oversold: KEY, LMT, and SNDK
- Trying to hold some rising trend line support: AA, AU, CLF, DO, EBAY, GE, GGB, GM, IIT, LSI, MSCC, NOK, NVLS, PDE, SNE, WDC, X, and XLB
- Trying to hold falling trend line support: STX
- Attempting to hold the 28 DMA here: AMTD and RIG
- Trying to break above some falling trend line resistance: AIG, BPOP, IYR, MER, MMC, and MTH
- Attempting to break above the 28 DMA here: RHT
- Now up against some rising trend line resistance: EMC, IDU, and RT
- Moderately overbought now: INTU and MDT
- Standard overbought: CGI, the DJ-30, ELY, JOSB, JPM, LUFK, the OEX index, PDA, and RGA
- Extremely overbought: BKC, BVN, KO, MCD, and PCU
- Toppy here: ACAS, PLL, and the S&P-500.
- A break out in either direction is on the way for: TSS
- To no position for now: INTU
- 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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