- YI: 0
- Probable bottom here for: AMAT
- Possible bottom here for: AXP, BAC, CAT, CSL, the IIX index, JCP, MRVL, and SMTC
- Trying to bottom out now: AAPL, AVP, BKC, CLF, CY, DELL, EEFT, ERF, GLW, GT, HMC, HON, IBM, MFE, NOK, OGE, PCU, PHG, PLT, PTEN, QQQQ, REDF, RYL, SEE, the S&P-500, WDC, WTS, and WY
- Extremely oversold: BA, C, CAKE, LEN, SVU, TOL, and WOR
- Standard oversold at this point: AA, AAUK, CMI, the DJ-30, EBAY, EXP, GF, IRF, IWM, MSCC, NAT, NWL, RMBS, ROK, STMP, TKR, WB, and XLF
- Moderately oversold now: AMTD, ELY, ENER, NYB, PXD, STP, TTH, and X
- Trying to hold some rising trend line support: FRO, GG, GOOG, and SPC
- Trying to hold falling trend line support: CPB, the DJ-30, DVY, EWD, MEOH, MER, MTD, NSM, the OEX index, PBY, SNA, SUN, and WHR
- Attempting to hold the 28 DMA here: OXY
- Trying to break above some falling trend line resistance: ACH, CORS, and GG
- Attempting to break above the 28 DMA here: MKC, PTR, and SGP
- Up against rising trend line resistance: XPLT
- Standard overbought: XSLV
- 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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