- YI: +2
- A possible bottom may be forming here for: TZOO
- Trying to bottom out now: APPB, BBBY, ENER, GFI, GNSS, IDA, IRF, SBUX, SWC, and YHOO
- Standard oversold at this point: HMY, NST, NVLS, PNRA, RGLD, RMBS, RT, RYL, STP, and TIE
- Moderately oversold now: ABX, ACAS, AEM, ALEX, AMAT, BMS, the BTK index, CAKE, CFC, the DRG index, DVY, ENR, EOG, ERIC, EWD, EWI, FXE, GR, IYR, JCP, JNJ, JPM, KGC, LUFK, MCRS, MDT, MER, MOT, MRK, MTH, NSC, OCR, OKE, PEG, PLT, QCOM, RGA, SEE, TSS, and XLU
- Trying to hold some rising trend line support: BKS, the BKX index, CMC, CSCO, DELL, the DJ-30, ERS, FRO, FXB, IDU, IWM, IYM, MDC, MMC, MDT, NX, the OEX index, OGE, OMN, OXY, PBY, PCU, PXD, ROK, SNE, SU, SYY, TICC, WMB, WOR, WTS, the XCI index, and XLF
- Trying to hold falling trend line support: ASA, AU, C, KEY, and the XAU index.
- Attempting to hold the 28 DMA here: ADP, AIG, AMN, BA, BLG, CBK, CGI, CHK, DO, ERF, EWA, EWC, FCX, FDP, GE, GT, LRW, MEOH, MDT, NBR, NX, PDE, PTEN, PXD, QQQQ, RDC, SLE, SNA, SUN, SYMC, TXU, WHR, XLP, XLE, XLK, XLR, and the XNG index.
- Trying to break above some falling trend line resistance: AA, EBAY, EON, and QLGC
- Attempting to break above the 28 DMA here: AAUK
- 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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