- YI: +1
- Trying to bottom out: MRVL, OMN, and RGLD
- Standard oversold: BLG, HMC, and NEM
- Moderately oversold now: ADP, LYO, and MFE
- Trying to hold some rising trend line support: BAA, CLG, ELN, EWJ, MCRS, NVLS, and YHOO
- Attempting to hold the 28 DMA here: ERF, GE, GOOG, and WIRE
- Trying to break above some falling trend line resistance: ALD, BKC, EXP, KGC, PMCS, TYC, and WY
- Now up against some rising trend line resistance: CLF and JWN
- Toppy here: CSTR and WNG
- A break out in either direction is on the way for: ACAS and FBR
- Anything posted here may 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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