- YI: -1.5
- Trying to bottom out in this area: FBR, GOOG, and NSM
- Standard oversold: IDA
- Moderately oversold now: FXC, GPC, KEY, and LOW
- Trying to hold some rising trend line support: EWU, IWM, PEG, PG, RMBS, SHI, and SOLF
- Trying to hold falling trend line support: T
- Attempting to hold the 28 DMA here: NSC and PHI
- Trying to break above some falling trend line resistance: GGB, IBM, JNJ, and UGP
- Moderately overbought now: ACAS and the XOI index.
- Standard overbought: ASA and LUFK
- 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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