- YI: +2.5
- Trying to hold some rising trend line support: KFT and NSC
- Trying to hold falling trend line support: AXP
- Trying to break above some falling trend line resistance: BA, CREE, DELL, GPC, NAT, NOK, PTEN, QQQQ, the S&P-500, TSU, and WB
- Attempting to break above the 28 DMA here: ACAS, AEM, BA, JCP, LUFK, MSCC, TCK, and TZOO
- Up against rising trend line resistance: GF and PNRA
- Moderately overbought now: BHP, BPOP, GGB, MPG, NLY, NSM, the OEX index, PCU, PNRA, and WOR
- Standard overbought: ALEX, CORS, GOOG, and MCD
- Toppy here: NX and WDC
- 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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