- Standard oversld: KGC
- Moderately oversold: NBR and PXD
- Trying to hold rising trend line support: MEOH, MMC, and NFI
- Attempting to hold the 28 DMA: WIRE and XLE
- Trying to break above falling trend line resistance: GLW, MDT, MFE, MTD, MTU, PEG, RYL, SBUX, SGP, SWC, TTH, WY, XLP, XLU, and the XOI index.
- Attempting to break above the 28 DMA: IDA, IYM, MRK, and RT
- Up against rising trend line resistance: HMC, SNDK, SU, TKR, and TLB
- Moderately overbought: PLT and STP
- Extremely overbought: GM
- A break out in either direction on the way for: OCR
- 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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