- YI: 0
- Moderately oversold now: BAC, BGF, CSL, FXC, IFN, KRF, and TSU
- Trying to hold some rising trend line support: C, GOOG, GPC, the IIX index, SEE, SNA, the S&P-500, SYY, TLB, and VFC
- Trying to hold falling trend line support: ADP, IWM, JCP, and KEY
- Attempting to hold the 28 DMA here: CAT, DVY, IYG, LEN, NOK, NWL, PHI, and XLF
- Trying to break above some falling trend line resistance: BMY and WB
- Attempting to hold the 28 DMA here: AMD
- And as is always the case, 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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