- YI: -3
- Possible bottom here for: C and MOT
- Trying to bottom out in this area: FNM, LOW, MER, NOK, QCOM, SYY, TICC, TKR, and TLB
- Standard oversold now: BA and GM
- Moderately oversold: BHP, JCP, TSU, and WOR
- Trying to hold some rising trend line support: AEM, ABX, and XSLV
- Trying to hold falling trend line support: CY
- Attempting to hold the 28 DMA here: AAUK, FXC, and GF
- Trying to break above some falling trend line resistance: CSL, GIS, IBM, JNJ, PLT, SUN, and YUM
- Attempting to break above the 28 DMA here: NYB
- A break out in either direction is on the way for: KO
- 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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