- YI: +2.5
- Trying to hold some rising trend line support: BPOP, FNM, MOT, PHI, and TSM
- Trying to hold falling trend line support: CPB, DJ-30, STX, XLF, and XMSR
- Attempting to hold the 28 DMA here: GFI, GIS, GOOG, IBM, S&P-500, and T
- Moderately overbought: ABX and NST
- Toppy here: ASA and the XOI index.
- Possible top here for: ERF and GG
- Probable top here for: FRO
- Going parabolic: TOT
- 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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