- Yi: +4.5
- Probable bottom here for: QID
- Trying to bottom out in this area: $USD and FSLR
- Moderately oversold now: AVAV
- Attempting to hold the 28 day here: JOSB and PG
- Attempting to break above the 28 day: RX
- Moderately overbought now: BGF, MBI, PEP, PRBLX-weekly, TLB
- Standard overbought: MMC, PHI, RBS
- Toppy here: $CRB, $DJX, $OEX, BNI, CAT, CSCO, CSL, DDM, DVY, GF, GOOG, IDA, IYY, NWL, PLL, RJI, ROK, SWK, UGP
- Possible top here for: ELN
- A break out in either direction is on the way for: NAT, SEED, TAN, YGE
- 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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