- YI: +4.5
- Trying to bottom out: RYL and STMP
- Standard oversold: JCP and RGLD
- Moderately oversold: GRZ and MMC
- Trying to hold some rising trend line support: ADP, CSTR, HMY, NFI, NVLS, SWC, and TOL
- Attempting to hold the 28 DMA here: APPB, CREE, the IIX index, JPM, and PLT
- Trying to break above some falling trend line resistance: BA, CHC, CPB, EMC, EWU, GLD, HMC, OMN, PHG, REDF, SFY, SLV, and WMB
- Attempting to break above the 28 DMA here: ERIC and RFMD
- Now up against some rising trend line resistance: FTO, IDU, NOK, the OEX index, XLE, and the XNG index.
- Moderately overbought: AMD, BAA, F, and LMT
- Standard overbought: RGA
- Extremely overbought: CAT and IIT
- A possible top may be forming in this area for: IBM
- Probable top here for: The DJ-30
- A break out in either direction is on the way for: ALD and FDP
- To no position for now: AMD
- 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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