- Yi: +6
- Now trying to bottom out: CBK and MOT
- Moderately oversold: BPZ, FXI, MOT
- Trying to hold some rising trendline support: $SPX, $WTIC, $XAU, $XOI, ABX, B, CLF, CNK, COGO, CSIQ, CTB, EWI, FCX, GDX, GG, LDK, QCOM, SEED, SHI, SSRI, TAN, TIE, TSL, URE, UYG, V, WFC, X, YGE
- Attempting to hold the 65 DMA here: ENER, GOOG, IRF, PTR, RJA, SU, SYY, T, TSM, UGP
- Attempting to hold the 28 day: $GOLD and STX
- Attempting to break above the 28 day: PG
- Trying to break above some falling trendline resistance: LMT
- Moderately overbought now: CAKE
- Overbought: MKC
- Toppy here: KFT
- 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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