- Yi: +4.5
- Now trying to bottom out: RJA and SPWRA
- Oversold: FXI
- Moderately oversold: $WTIC, $XOI, ABX, ASA, ENER, EWI, FCX, FUQI, GLD, NEM, PEG, SPWRA, T, TAN, TOT
- Trying to hold some rising trendline support: $DJX, $SOX, AA, ASA, AXP, BAC, BPZ, DDM, F, KFT, MKC, PBW, PEP, RAIL, RJI, SWK, T, TSL, UGA, WY
- Attempting to hold the 65 DMA here: GOOG, JASO, WFC
- Trying to hold falling trendline support: NTES
- Trying to break above some falling trendline resistance: TLB
- Moderately overbought now: $USD, ACF, ELY, KBE
- Overbought: BBT and CREE
- Toppy here: MBI and OGE
- A possible top here for: ACAS
- More later. 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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