- YI: -0.5
- Moderately oversold now: SYY
- Trying to hold some rising trend line support at this point: AIG, the DJ-30, GIS, OGE, PAYX, RT, and XMSR
- Trying to hold falling trend line support: HMC and SNE
- Attempting to hold the 28 DMA here: BPOP, PEP, and WSO
- Trying to break above some falling trend line resistance: AMD, BA, and SUN
- Up against rising trend line resistance: JNJ and XLU
- Moderately overbought now: T2118 and the XOI index.
- Toppy here: EWI and PDS
- 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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