- YI: +0.5
- Standard oversold now: STX
- Trying to holkd some rising trend line support: EWI
- Trying to break above some falling trend line resistance: ARM, the DJ-30, FNM, the IIX index, NYB, PBY, SNE, UGP, UN, and WHR
- Attempting to break above the 28 DMA here: ABX, AMD, GLD, GM, GOOG, TSU, WY, and XSLV
- Up against rising trend line resistance: CY, EWU, FCX, GG, GGB, PCU, and SEE
- Moderately overbought now: ADP, AEM, ASA, CSL, EXP, GG, GPC, MCD, NST, OKE, PEG, PUW, RGLD, RIO, SNA, SUN, TKR, TSM, the VXO, and XLU
- Standard overbought: FRO, GIS, and the XOI index.
- Extremely overbought now: IBM
- Possible top here for: SEE
- Toppy at this point: PAYX
- Has gone parabolic: LUFK
- 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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