- YI: +1.5
- Trying to bottom out: PHI and XPLT
- Moderately oversold: XPLT
- Trying to hold some rising trend line support: ERF, GLD, and JCP
- Trying to hold falling trend line support: GFI
- Attempting to hold the 28 DMA: ASA
- Up against rising trend line resistance: MKC, MSCC, T, and XLU
- Trying to break above some falling trend line resistance: ADP, BAC, BMY, the DJ-30, and PBY
- Attempting to break above the 28 DMA: JNJ, MCD, the S&P-500, and WHR
- Moderately overbought: ALEX, CBK, GOOG, HMC, the IIX index, and TTH
- Standard overbought: IWM
- Toppy: V
- 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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