- YI: -3.5
- Possible bottom here for: ACH and AMAT
- Trying to bottom out in this area: BA, GF, GM, MER, and PEG
- Standard oversold at this point: AAPL, TSL, and TSU
- Moderately oversold here: UGP
- Trying to hold some rising trend line support: EWJ and GLD
- Trying to hold falling trend line support: ADP, AIG, BMY, IFN, KO, SNE, SYY, T, TTH, and UGP
- Attempting to hold the 28 DMA here: C, GE, GPC, KBE, MTH, and PAYX
- Up against rising trend line resistance: NAT
- Trying to break above some falling trend line resistance: ARM, AVP, and JASO
- Trying to breakn above the 28 DMA here: QQQQ
- 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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