- YI: 0
- Trying to bottom out now: EJ and KFT
- Moderately oversold: NWL and RGLD
- Trying to break above some falling trend line resistance: AIG, AMTD, BGF, CAT, ELY, ERIE, IDA, JOSB, LEN, LMT, PTEN, WB, WHR, and XLF
- Attempting to break above the 28 DMA here: ADP, EWJ, FCX, the IIX index, NAT, PEG, RT, T, and TASR
- Up against rising trend line resistance: CLF
- Moderately overbought now: ASA, BKC, DVY, EXP, PNRA, PTEN, RMBS, TKR, TSM, TSU, and WSO
- Standard overbought now: HIT, JCP, JWN, KMX, NX, NYB, PHI, QCOM, and SEE
- Possible top here for: XSLV
- A break out in either direction is on the way for: SOLF
- 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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