- YI: +3.5
- Trying to bottom out: CFC
- Standard oversold: CHC
- Moderately oversold: CORS
- Trying to hold some rising trend line support: BKS, CBK, FTO, GOOG, IDU, IWM, JNPR, MMC, and MTU
- Trying to hold falling trend line support: CMC, HIT, and MTH
- Attempting to hold the 28 DMA here: DO, GM, and KMX
- Trying to break above some falling trend line resistance: MRVL and NEM
- Up against some rising trend line resistance: FXC
- Moderately overbought: KEY and MEOH
- Extremely overbought: CSL
- To a sell: 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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