- YI: -3.5
- Standard oversold: PBY
- Moderately oversold: BAC, CMI, GFI, and SUN
- Trying to hold some rising trend line support: BGF, IBM, the IIX index, MKC, STMP, and TTH
- Trying to hold falling trend line support: C, KEY, MMC, NYB, and SNE
- Attempting to hold the 28 DMA here: IBM and TSM
- Trying to break above some falling trend line resistance: BMY, NST, and TICC
- Attempting to break above the 28 DMA here: AAUK, RGLD, and XPLT
- Up against rising trend line resistance: BHP and CPB
- Moderately overbought: ERF and FRO
- Anything posted 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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