- Yi: +4.25
- Now trying to bottom out in this area: JASO and OCR
- Moderately oversold: JASO, LDK, SPWRA, TAN, YGE
- Attempting to hold the 65 day: YGE
- Attempting to hold the 28 day: PBW and TSL
- Attempting to break above the 28 day: NAT
- Attempting to break above the 65 day: TOT
- Moderately overbought now: C, DELL, EWJ, IRF, LPL
- Standard overbought: CREE, EGO, X
- Toppy here: AA, CREE, CSL, DDM, DVY, EWA, FCX, GOOG, IWM, IYY, LEN, MMC, SHLD, X
- Possible top in place for: EEFT
- A break out in either direction is on the way for: XOP
- 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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