- YI: +1.5
- Possible bottom here for: GM
- Trying to bottom out now: BPOP and NOK
- Standard oversold: AIG
- Moderately oversold now: FNM and GFI
- Trying to hold some rising trend line support: ASA, FRO, GF, PDS, PTR, RGLD, TOT, and the XOI index.
- Trying to hold falling trend line support: AEM, GG, PCU, PEG, and SNE
- Attempting to hold the 28 DMA here: ABX, BHP, ERF, and GLD
- Up against rising trend line resistance: QQQQ
- Trying to break above some falling trend line resistance: AAPL, AAUK, AVP, GIS, GOOG, KFT, and UN
- Moderately overbought now: OGE
- Standard overbought: QCOM
- Toppy here: NYB
- Anything 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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