- YI: +2
- Moderately oversold: DJ
- Trying to hold some rising trend line support: AVP, CAT, CPB, ELY, EWG, and F
- Trying to hold falling trend line support: AMTD
- Attempting to hold the 28 DMA here: AA and EBAY
- Trying to break above some falling trend line resistance: ERS
- Attempting to break above the 28 DMA here: AMZN and BBBY
- Standard overbought: ASA
- Extremely overbought: AEM
- Possible top here for: GG
- Toppy: FXE
- Going parabolic: FCX
- To no position for now: AAPL and CAT
- More later. 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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