- YI: +2.5
- Possible bottom here for: AIG
- Trying to bottom out: KBE, KEY, WB, and WHR
- Standard oversold now: BAC, C, GE, and NWL
- Moderately oversold: BA, BPOP, DJ-30, EBAY, GOOG, IFN, JCP, LEN, MCD, MER, MMC, UN, USB, VFC, and XLF
- Trying to hold some rising trend line support: CAT, ERF, FCX, MDC, MSCC, PG, and SVU
- Trying to hold falling trend line support: DVY, SEE, TSU, and WY
- Attempting to hold the 28 DMA here: AAPL, ACAS, CY, IYY, QQQQ, TSM, and TTH
- Trying to break above some falling trend line resistance: OGE
- Attempting to break above the 28 DMA here: VXO
- Moderately overbought now: XSLV
- 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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