- YI: -2
- Possible bottom here for: MSCC
- Trying to bottom out here: AXP and DELL
- Standard oversold: BA
- Moderately oversold: AVP, KO, MDC, MOT, and NAT
- Trying to hold some rising trend line support: AAUK, ALEX, BKC, CSL, GE, GT, IBM, JNJ, MTD, PBY, PEG, PG, QLGC, QQQQ, and TKR
- Trying to hold falling trend line support: BMY, IDU, SMTC, and WIRE
- Attempting to hold the 28 DMA here: CSTR and FXC
- Trying to break above some falling trend line resistance: EJ and HMC
- Attempting to break above the 28 DMA: GFI and PEG
- Up against rising trend line resistance: CDE
- Standard overbought now: ABX
- A break out in either direction is on the way for: LEN
- 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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