- YI: 0
- Trying to bottom out in this area: C and SVU
- Moderately oversold now: BPOP and NAT
- Trying to hold some rising trend line support: PAYX and XPLT
- Trying to break above some falling trend line resistance: BAC, CBK, EWJ, EXP, IWM, LEN, MSCC, PBY, QQQQ, RT, and SEE
- Attempting to break above the 28 DMA here: JNJ, KEY, MMC, MPG, RT, WY, and XLU
- Up against rising trend line resistance: JCP
- Moderately overbought now: LOW, MER, OKE, TCK, TOT, and YUM
- Standard overbought: IBM and QCOM
- Extremely overbought: AA
- 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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