- YI: +5
- To a buy signal: MTU
- Trying to bottom out: CHC, CORS, MRVL, and RHT
- Moderately oversold: AEM, CLG, CSL, and NG
- Trying to hold some rising trend line support at this point: ALD, BGF, BHP, FBR, HMC, KGC, RFMD, and RT
- Trying to hold falling trend line support: RADN
- Attempting to hold the 28 DMA here: ACF, AU, ELN, EWP, NEM, NTES, and TSS
- Trying to break above some falling trend line resistance: AAPL, MCRS, MFE, PNRA, PTR, and STX
- Now up against some rising trend line resistance: AA, ERIC, FTO, and IIT
- Moderately overbought: CAKE, CPB, CREE, ERF, HPQ, and WDC
- Standard overbought: IWM, RNR, and SNA
- Extremely overbought: BTK, ENR, RGA, WOR, and XLU
- Toppy here: TMO
- A break out in either direction is on the way for: ADP, ASA, JCP, and WY
- 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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