- YI: +2.5
- Trying to bottom out in this area are: ABX, ASA, AEM, CREE, GFI, and SUN
- Standard oversold now: GLD, PHI, WHR, and XSLV
- Moderately oversold: ASA, GG, PG, RGLD, and XPLT
- Trying to hold some rising trend line support: FCX, KFT, SYY, and TOT
- Trying to hold falling trend line support: RIO
- Trying to break above some falling trend line resistance: ALEX, BGF, DVY, and STMP
- Up against rising trend line resistance: IFN, IWM, IYY, NYB, QQQQ, and the S&P-500.
- Attempting to break above the 28 DMA here: BAC, MPG, and TICC
- Moderately overbought now: ARM, C, GM, GPC, PLT, QCOM, T, and XLF
- Standard overbought: The IIX index, NAT, and STMP
- Possible top here for: AAPL and JNJ
- 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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