- YI: +1
- Moderately oversold now: AMD, IBM, MRK, and SPC
- Trying to hold some rising trend line support: ALD, AMTD, BHI, BMY, CHC, CPB, EBAY, HPQ, KEP, LSI, MCRS, NOK, RFMD, RIO, TOL, and TSS
- Trying to hold falling trend line support: GF, KMX, RGLD, RMBS, and WB
- Attempting to hold the 28 DMA here: AA, ARM, CSL, EXP, GT, RDC, SHI, SVU, and TTH
- Trying to break above some falling trend line resistance: QLGC and WDC
- Now up against some rising trend line resistance: AAPL
- Standard overbought: NFI
- Anything 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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