- YI: +4
- Trying to bottom out here: IRF and YHOO
- Moderately oversold now: ABX, EXP, GE, GM, REDF, and RMBS
- Trying to hold some rising trend line support: BAC, BKC, DELL, HIT, and XMSR
- Trying to hold falling trend line support: MTU and RGLD
- Attempting to hold the 28 DMA here: BKS, CFC, NEM, THQI, and TZOO
- To a hold for now: KMX and RGLD
- Trying to break above some falling trend line resistance: IBM, MU, and RFMD
- Attempting to break above the 28 DMA here: BAA and KMX
- Now up against some rising trend line resistance: MTD, SWC, and TKR
- Moderately overbought now: CSTR, MRK, RIG, and WMB
- Extremely overbought: PXD
- A possible top may be forming in this area for: ALEX
- Toppy here: BTK, CMI, WNG, and XLK
- A break out in either direction is on the way for: ROK
- 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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