- YI: +3.5
- Trying to bottom out here: C
- Trying to hold falling trend line support: VXO
- Up against rising trend line resistance: CY, RIO, TOT, WOR, and the XOI index.
- Trying to break above some falling trend line resistance: DJ-30, FCX, FNM, PG, PLL, and XLU
- Attempting to break above the 28 DMA here: CSL and PHI
- Moderately overbought: ADP, BGF, FCX, and WY
- Standard overbought: PUW
- Possible top here for: IIX
- Toppy: CPB
- Probable top here for: AA
- 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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