- YI: +3
- Trying to bottom out in this area: AIG and BMY
- Trying to hold some rising trend line support: GG
- Up against rising trend line resistance: The IIX index, and MCD
- Trying to break above some falling trend line resistance: ACAS, IYY, SYY, and TKR
- Attempting to break above the 28 DMA here: ACAS, DVY, EBAY, MKC, PBY, and WSO
- Moderately overbought now: AMD
- Standard overbought: AA
- Toppy here: BHP
- Probable top here for: GGB
- 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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