- YI: -1
- Trying to bottom out in this area: AAPL and GM
- Extremely oversold: STMP
- Moderately oversold now: IFN
- Trying to hold some rising trend line support here: AAUK, AEM, BHP, FCX, NYB, and TKR
- Trying to break above some falling trend line resistance: KO, OXY, and the S&P-500.
- Now up against rising trend line resistance: GIS
- Toppy here: XSLV
- A break out in either direction is on the way for: QQQQ
- 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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