- Sorry to be so late today, but everything has gone wrong lately, from ISP problems to sickness and everyting but the kitchen sink...
- YI: +3.5
- Moderately oversold: BLG
- Trying to hold some rising trend line support: BKC
- Trying to break above some falling trend line resistance: APPB, BAC, BBBY, CFC, CPB, EBAY, and ENER
- Attempting to break the 28 DMA here: ALC, BKS, the BKX index, the BTK index, and C
- Up against rising trend line resistance: AAUK and DVY
- Moderately overbought: AMAT, AMD, AVP, CMC, and the DRG index.
- Standard overbought: CSCO and the DJ-30.
- Extremely overbought: CAT and ENER
- Toppy here: ABX, AEM, AMN, and BHP
- 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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