- YI: -3
- Trying to bottom out in this area: PEG
- Trying to hold some rising trend line support: CORS, the DJ-30, EXP, and SNA
- Trying to break above some falling trend line resistance: ACH, FXC, OKE, PCU, RIO, and WOR
- Attempting to break above the 28 DMA here: AEM, CREE, EWI, EWU, FCX, GLD, OXY, and TOT
- Up against rising trend line resistance: CAT
- Moderately overbought now: CBK, CY, and TCK
- Standard overbought: LUFK and PDS
- Toppy here: CAT
- 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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