- Yi: +4.25
- Now trYing to bottom out in this area: MBI
- Attempting to hold the 65 DMA here: VOD
- Attempting to break above the 28 day: HCBK, JASO, NOK, SHI
- Attempting to break above the 65 day: $BDI-weekly and LPL
- Moderately overbought now: $DJX, ACAS, ACH, AVP, BAC, COGO, CSCO, CSIQ, FRO, FSLR, IBM, IWM, IYY, NM, QQQQ, RJZ, SHLD, SU, SUN, TSL, USB, UYG, V, VFC, WFC, XLF
- Standard overbought: $OEX, $XAU, AA, ABX, AEM, EWA, GDX, RGLD, SLV
- Extremely overbought: GLD, GOOG, TLB
- Toppy here: CSCO, EGO, EXP, GG, GOOG, KO, NEM, RAIL, SLW, SSRI, TLB, WATG
- A break out in either direction is on the way for: C, FUQI, NWL
- 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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