- YI: +5
- Moderately oversold: GYMB, SKS, TIE, TSM, and YHOO
- Trying to hold some rising trend line support: ADP, CHK, EWG, EWQ, EWU, GLD, MCRS, NG, PCU, PTEN, TSS, and TXU
- Trying to hold falling trend line support: AMTD and CAKE
- Attempting to hold the 28 DMA here: DO, FDP, FTO, GFI, GT, NX, SLV, SYY, and TYC
- Trying to break above some falling trend line support: ALD, RHT, and WB
- Attempting to break above the 28 DMA here: MRVL
- Now up against some rising trend line resistance: MSCC, NSC, and XLU
- Moderately overbought now: AMAT, JOSB, MDC, SMTC, STMP, TASR, and TOL
- Standard overbought: BA and ENR
- A possible top may be forming in this area for: PLL
- Toppy here: CY and DVY
- To a sell: EWA, EWI, and the VXO
- A break out in either direction is on the way for: ERF
- 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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