- YI: +2.5
- To a buy: AMD
- Trying to bottom out: IDA, MDC, NTES and RHT
- Moderately oversold now: CPB, the dollar, LRW, RI and ROK
- Trying to hold some rising trend line support: EBAY and IRF
- Trying to break above some falling trend line resistance: CFC, CREE, ELN, GYMB, JNPR, JPM, and LYO
- Attempting to break above the 28 DMA here: AMN and RNR
- Up against some rising trend line resistance: EWC, EWP and QQQQ.
- Moderately overbought: ACAS, BBBY, BVN, CAT, CY, the DRG index, EBAY, EXP, GLD, GLW, gold, HMY, HPQ, IBM, IWM, JCP, MSCC, RDC, RGA, and the YI.
- Standard overbought: BKC, DVY, EOG and PXD
- Extremely overbought: CMC and MTD
- A possible top may be forming in this area for: AMZN, ASA, EWD, GT, and the S&P-500.
- Toppy here: ALEX, CHK, ECA, EWG, EWQ, FRO, GR and RIO
- To a sell: The XAU hourly at noon yesterday and EWI
- A break out in either direction is on the way for: AMAT, BAC and MOT
- 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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