- YI: +5
- To a buy: RFMD
- Trying to bottom out: AU and CDE
- Standard oversold: CBK and GFI
- Moderately oversold: AVP, NVLS, RYL, and THQI
- Trying to hold some rising trend line support: AMTD, BVN, CMC, GOOG, JWN, and TSM
- Trying to hold falling trend line support: SBUX
- Attempting to hold the 28 DMA here: ABX, ALEX, BKX, GT, HMY, UGP, and XLP
- Trying to break above some falling trend line resistance: DJ, ENER, FXE, GYMB, MRK, OXY, RT, SPC, SVU, and TLB
- Now up against some rising trend line resistance: CLF, FCX, MCD, NSM, PHI, TTH, and XLE
- Moderately overbought: MCRS and RHT
- Standard overbought: AMAT, AMN, CGI, LYO(corrected, SEE, SMH, and SMTC
- Extremely overbought: IBM
- Toppy here: TMO
- 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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