- YI: -4
- Standard oversold: RNR
- Moderately oversold: XPLT
- Trying to hold some rising trend line support: XSLV
- Trying to break above some falling trend line resistance: ADP, ALEX, the BKX index, CY, GM, LEN, MSCC, NLY, NWL, NYB, PAYX, PBY, SYY, TLB, XLF, and XLU
- Attempting to break above the 28 DMA here: ARM, BAC, KEY, MDC, MMC, NST, PEP, QQQQ, ROK, RT, S&P-500, and TTH
- Up against rising trend line resistance: BPOP, GIS, IBM, and MKC
- Moderately overbought now: CPB, FNM, GE, KO, PG, RYL, and T
- Anything posted 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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