- YI: +3
- Moderately oversold now: JWN
- Trying to hold some rising trend line support: BHP, CHK, EOG, EWC, GRZ, KO, LUFK, MRK, PCU, SKS, UGP, XLK, XLP, and XLU
- Trying to hold falling trend line support: MRVL
- Attempting to hold the 28 DMA here: AMN, the BKX index, CMI, QQQQ, and the XCI index.
- To a hold for now: RFMD
- Trying to break above some falling trend line resistance: CSL, HIT, MCRS, MTH, NEM, PNRA, and the VXO
- Attempting to break above the 28 DMA here: GFI and RFMD
- Now up against some rising trend line resistance: BA and NFI
- Moderately overbought now: AMTD, BKS, BPOP, FXB, GYMB, MTU, TASR, and TYC
- Standard overbought: MMC, ROK, and TXU
- Extremely overbought: EON
- A possible top may be forming in this area for: CREE and CUP
- Toppy here: EMC, FXE, OKE, and RNR
- Probable top here for: AA
- A break out in either direction is on the way for: SVU
- To no position for now: AMTD
- Anything 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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