- YI: -4.5
- Possible bottom here for: CY
- Standard oversold: LUFK
- Trying to hold some rising trend line support: GFI
- Trying to break above some falling trend line resistance: AA, BA, CAKE, CBK, EWA, EXP, FCX, GF, GLW, the IIX index, IYM, KMX, MFE, MRVL, NAT, NOK, NTES, NYB, the OEX index, PCU, and PLT
- Attempting to break above the 28 DMA here: CAKE, CAT, FXC, GLW, GT, HIT, IFN, JOSB, LMT, MEOH, MFE, PBY, and REDF
- Up against rising trend line resistance: ABX, AEM, ASA, EJ, and GLD
- Moderately overbought now: ARM, CLF, HON, LEN, MPG, MSCC, and PDS
- Standard overbought now: GG
- More later. 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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