- Yi: +5.2
- Moderately oversold: MOT
- Up against rising trendline resistance: $DJX
- Attempting to break above the 28 DMA here: ASA, PGM, SLW
- Trying to break above some falling trendline resistance: ACAS, EWI, SHI, SU, TKR, USB, WATG, XLU
- Attempting to break above the 65 DMA here: $XAU, SLV, SLW, WFR
- Moderately overbought now: $GASO, $OEX, $PLAT, $XOI, BA, CSCO, DELL, GPC, MFE, SSO, UGA, WOR
- Overbought: AAPL, GOOG, QQQQ, URE, X, XOP
- Extremely overbought: SHLD
- Toppy here: $IIX, $PLAT, $SPX, ARM, CHK, CLF, COGO, CREE, HCBK, IRF, LPL, OGE, PPBW, QLD, SPWRA, SSO, SUN, SWK, TIE, URE, USD, X, XOP
- A possible top here for: AA, STX, WDC
- A probable top here for: $SOX
- Going parabolic: SHLD
- 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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