- YI: -4
- Trying to bottom out: SNA
- Extremely oversold: STX
- Standard oversold: TOT and the XOI index.
- Moderately oversold: XLU
- Trying to hold some rising trend line support: ABX, LUFK, TOT, and XSLV
- Trying to hold falling trend line support: FCX
- Attempting to hold the 28 DMA here: VXO
- Trying to break above some falling trend line resistance: ACH, ADP, BAC, CBK, EXP, FNM, GF, HMC, HON, the IIX index, IWM, MER, MSCC, NOK, TSU, and XLF
- Attempting to break above the 28 DMA here: BAC, C, GPC, KFT, MSCC, MTH, PBCT, PHI, PTR, SEE, SVU, TSL, UN, and USB
- Moderately overbought now: BMY, CY, IBM, MCD, MDC, NST, and SYY
- Toppy here: JNJ
- 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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