- Yi: +2.5
- Trying to break above the 28 DMA here: BAC. C, EXP, GIS, USB
- Trying to break above the 65 DMA: AVP, BNI, BPZ, CSL, DDM, EWA, FCX, FRO, GLW, GOOG, KFT, MEOH, MMC, MOT, PBW, SKS, SU, SYY, TAN, USD
- Moderately overbought now: B, CAKE, CTB, EWJ, IFN, PLL, SWK
- 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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