- YI: 0
- Trying to hold some rising trend line support: BAC, CAT, IDA, MCD, and NYB
- Trying to break above some falling trend line resistance: BHP, CREE, HON, QQQQ, and TKR
- Trying to break above horizontal trend line resistance: The IIX index.
- Attempting to break above the 28 DMA here: ASA, MOT, OKE, and TICC
- Up against rising trend line resistance: AAPL, LUFK, and YUM
- Moderately overbought now: AA and NSM
- Standard overbought: RYL and XHB
- 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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