- YI: +3.5
- Trying to bottom out: AMD, JCP, and TOL
- Trying to hold some rising trend line support: ACAS, ADP, BA, CORS, GLW, GT, JOSB, MTU, NG, PBY, PG, and RHT
- Trying to hold falling trend line support: PDS
- Attempting to hold the 28 DMA: MFE, WDC, and X
- Trying to break above some falling trend line resistance: KGC and USU
- Attempting to break above the 28 DMA here: CAKE, CFC, EWD, GIS, HMY, IFN, KOMG, and OCR
- Now up against rising trend line resistance: EWQ and PLL
- Moderately overbought now: ALD, CBK, GG, MEOH, MMC, SYY, and TLB
- Extremely overbought: AMN and BHI
- Toppy at this point: CHK, COP, DO, EMC, FTO, GGB, LYO, NFI, SMH, SNDK, and WHR
- A break out in either direction is on the way for: MSCC and SNE
- 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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