- YI: -1.5
- Possible bottom here for: T
- Oversold: PEG
- Moderately oversold: FXI and RGLD
- Trying to hold some rising trend line support: ACAS, CY, MEOH, and PDS
- Trying to hold falling trend line support: AA, AEM, BHP, and OKE
- Attempting to hold the 28 DMA here: PTR, TLB, and WY
- Up against rising trend line resistance: MCD
- Trying to break above some falling trend line resistance: ALEX, OGE, STX, and WSO
- Overbought: CNK
- 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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