- YI: +0.5
- Trying to hold some rising trend line support: SUN
- Attempting to hold the 28 DMA here: MMC and SYY
- Trying to break above some falling trend line resistance: AAPL, ABX, BMY, GPC, PBY, PEG, and RNR
- Attempting to break above the 28 DMA here: AEM, AMD, GG, TSU, and XPLT
- Up against rising trend line resistance: ACH, CMI, and NSM
- Moderately overbought now: AAUK, ACH, GOOG, IWM, MDC, OXY, PCU, PTR, and the S&P-500.
- Standard overbought: AAPL, BHP, CY, ERF, FCX, MSCC, and NSC
- Extremely overbought: GGB, LUFK, and TCK
- Toppy here: PAYX, RIO, and SEE
- A break out in either direction is on the way for: WB
- 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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