- Yi: +5.3
- Probable bottom here for: QID
- Attempting to hold the 28 DMA here: CBK
- " to break above the 28 DMA: LOW
- " to break above the 65 DMA: FSLR, IFN, LMT, OCR
- Moderately overbought now: MTH, NST, OCR, OGE, RJI, SWK, USB, WFR, XLU, YGE
- Standard overbought: AA, BA, CAT, MSCC, PAYX, PGM, PTEN, PTR, SPWRA, SU, TAN, WOR, WSO, XOP
- Extremely overbought: $XAU, AEM, CLF, FCX, PLL, SSRI, URE, V, WFC, WOR
- Toppy here: $SOX, CAT, CHK, MKC, OGE, PBY, PGM, PLL
- Possible top here for: MOT, SU, TIE, WHR
- Probable top here for: STX and X
- A break out in either direction is on the way for: BAC
- 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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