- Yi: +4.1
- Possible bottom here for: TLB
- Now trying to bottom out: $VIX
- Average oversold: DELL
- Moderately oversold: AAPL, SKS, WFC, XOP
- Trying to hold rising trendline support: $CRB, F, LMT, NEM, SU, SWK, VFC
- Attempting to break above the 28 DMA here: B and IWM
- Trying to break above falling trendline resistance: $SOX, AA, ACH, AVAV, BBT, CBK, CSL, IBM, IRF, JASO, QCOM, QID, RBS, SHI, SPWRA, SSO, TIE, TSM, UYG, WFR, WSO, XLF
- Attempting to break above the 65 day: BAC
- Now up against some rising trendline resistance: ABX, FRO, IYY, TOT, TSL, WDC, WY, XLU
- Moderately overbought now: $SOX, AEM, AVP, BPZ, EWJ, GPC, LDK, URE
- Average overbought at this level: $XAU, FRO, GG, IDA
- Extremely overbought: CNK
- Toppy here: $XAU, BPZ, LPL, MKC, OGE, PAYX, WY
- A possible top here for: CNK, CREE, GDX, GLD
- A probable top here for: GLD
- A break out in either direction is on the way for: ACAS
- 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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