- Yi: +5.11
- Trying to hold some rising trendline support: CREE, CSIQ, EEFT, FRO, JASO, LOW, MSCC, NEM, NM, PBW, SHLD, SWK, TAN, TSM, URE, X, YGE
- Attempting to hold the 65 DMA here: NAT and SLW
- Trying to hold falling trendline support: GF and SLV
- Now up against rising trendline resistance: IRF and OGE
- Trying to break above some falling trendline resistance: WSO
- Attempting to break above the 65 DMA here: TLB
- Moderately overbought now: RJI
- A possible top here for: GIS
- A break out in either direction is on the way for: PG
- Happy New Year! 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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