- YI: -0.5
- Moderately oversold: PEP
- Trying to hold some rising trend line support: PG and WY
- Trying to hold falling trend line support: AIG
- Trying to break above some falling trend line resistance: ACH, ASA, BHP, EBAY, FNM, GF, GM, NYB, PTR, the S&P-500, TSU, and VFC
- Attempting to break above the 28 DMA here: ABX, C, MDC, QQQQ, STX, and TKR
- Moderately overbought now: AAUK and MSCC
- Standard overbought: MEOH
- Extremely overbought: FRO
- Toppy here: ARM and FCX
- 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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