- YI: +2.5
- Moderately oversold at this level: PEP and UGP
- Trying to hold some rising trend line support: GIS
- Trying to break above some falling trend line resistance: GE, KEY, NLY, WB, and XSLV
- Attempting to break above the 28 DMA here: AA
- Moderately overbought now: FNM, IYG, JCP, KBE, MER, MSCC, USB, and WY
- Standard overbought at this level: SNA
- Toppy here: BA, the DJ-30, the IIX index, IYY, QQQQ, and the S&P-500.
- A break out either way is on the way for: IDA, PEG, and TSU
- 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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