- Yi: +4.3
- Probable bottom here for: LEN
- A possible bottom here for: MMC
- Now trying to bottom out in this area: $GASO, BAC, C, JOSB, QID, UGA, WFC
- Moderately oversold: ACAS and EXP
- Attempting to hold the 65 DMA here: RJI
- Trying to hold some rising trendline support: $DJW-weekly, BPOP, BPZ, CREE, CSIQ, IFN, KBE, MKC, MSCC, PHI, PTR
- Attempting to hold the 28 day: WHR
- Trying to break above falling trendline resistance: $HGX, $NYA50R-weekly, NWL, RJZ, VFC, XOP
- Moderately overbought now: AA, BGS, CAKE, CBK, COGO, GPC, IBM
- Up against some rising trendline resistance: DVY, GIS
- Overbought: KO, LPL, NST, PEG, ROK
- Toppy here: COGO
- A break out in either direction is on the way for: B, BBT, CSIQ, SDTH, SEED, WY
- 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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