- YI: +4
- Now trying to hold some rising trend line support: ACF and SIFY
- To a hold for now: NTES and RFMD
- Trying to break above some falling trend line resistance: BLG, HPQ, JCP, NVLS, and ROK
- Attempting to break above the 28 DMA here: RT
- Now up against some rising trend line resistance: BMY, COP, JNPR, and TTH
- Moderately overbought: AVP, CSL, MDC, PHI, and RYL
- Standard overbought: BHI, DVY, EWI, GR, JWN, the XCI index, and XLP
- Extremely overbought now: ALEX, CMC, CMI, and SHI
- Toppy here: EWC, JOSB, and MSCC
- A break out in either direction is on the way for: LYO and OGE
- 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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