- YI: +1.5
- Possible bottom here for: ABX and GFI
- Trying to bottom out in this area: ASA, GG, RGLD and XPLT
- Trying to hold some rising trend line support: ERF, KO, PCU, and SNE
- Trying to hold falling trend line support: AA, CREE, and GLD
- Attempting to hold the 28 DMA here: PCU
- Trying to break above some falling trend line resistance: ACAS, ADP, ARM, EBAY, KEY, and TTH
- Up against rising trend line resistance: CPB, GPC, NST, and TOT
- Standard overbought now: CBK and SVU
- Possible top here for: SVU
- Probable top here for: AAPL
- Going parabolic: V
- 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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