- YI: -3
- Trying to hold some rising trend line support: NTES
- Trying to hold falling trend line support: REDF
- Trying to break above some falling trend line resistance: ACAS, ACH, ALEX, CY, EEFT, HIT, NSC, the OEX index, PLT, PTEN, SYY, and TCK
- Attempting to break above the 28 DMA here: AA, AXP, C, ERF, FRO, IYM, MPG, RNR, SUN, TSM, and TSU
- Up against rising trend line resistance: JCP and NEM
- Moderately overbought now: BAC, CAT, CBK, ELY, FXC, GLW, GM, QLGC, and SPC
- Standard overbought: ABX and BPOP
- Possible top here for: AEM and GLD
- Toppy at this point: CLF, CREE, CSTR, XPLT, and XSLV
- 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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