- YI: +0.5
- Trying to hold some rising trend line support: EJ, ENER, HMC, and LOW
- Trying to hold falling trend line support: BAC, C, and OCR
- Attempting to hold the 28 DMA here: ALEX and FBR
- Trying to break above some falling trend line resistance: ASA
- Attempting to break above the 28 DMA here: NSC
- Moderately overbought now: ABX, CREE, and GG
- Standard overbought: GLD
- Toppy here: HIT
- A break out in either direction is on the way for: OGE
- More later.
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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