- Yi: +4.35
- Probable bottom here for: RAIL
- A possible bottom here for: LEN
- Now trying to bottom out in this area: DELL
- Average oversold now: CHK, LEN, MTH
- Moderately oversold now: $WTIC, KFT, XOP
- Attempting to hold the 65 DMA here: $XOI, AAPL, ASA
- Trying to hold rising trendline support: $OEX, AA, AEM, AXP, BAC, CLF, GIS, NEM, NTES, SHLD, SLV, USB, X
- Attempting to hold the 28 DMA here: AXP, CAT, MOT, PGM
- Trying to hold falling trendline support: DELL and PTEN
- Trying to break above falling trendline resistance: B, BMY, EEFT, LDK, MMC
- Trying to break above horizontal trendline resistance: IBM
- Attempting to break above the 65 DMA here: $USD
- Now up against rising trendline resistance: $SPX, A, DDM, GE, IFN, MKC, TAN, USD
- Moderately overbought here: A, AMAT, CSCO, FSLR, IRF, JASO, ROK, STX, XLU
- Average overbought now: GLW and T
- Toppy here: CNK, FRO, NST
- A possible top here for: OGE
- A break out in either direction is on the way for: ARM, SWK, XLF
- 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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