- YI: +4 (The market is getting toppy again.)
- Possible bottom here for: RT
- Trying to bottom out now: SHI
- Moderately oversold: BHI, ERF, PDS, Q, SEE, and USU
- Trying to hold some rising trend line support: BKC, CORS, EOG, EWJ, FRO, GF, MTU, NFI, OGE, PXD, RDC, RGA, RGLD, SFY, SLV, and SUN
- Trying to hold falling trend line support: CFC
- Attempting to hold the 28 DMA here: ELN, PDE, PEG, TIE, and TXU
- Trying to break above some falling trend line resistance: APPB, LSI, PG, PTEN, and WY
- Trying to break above horizontal trend line resistance: MCD
- Moderately overbought now: ADP, NSC, TMO, and XMSR
- Possible top here for: The DJ-30, EWP, and GOOG
- Toppy at this point: ARM, BA, BVN, CMI, EWA, and KEP
- Probable top here for: CSL
- A break out in either direction is on the way for: OCR
- 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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