- Yi: +1.85
- Now trying to bottom out in this area: $NYA50R-weekly, B, BAC, BPOP, SEED, WFR
- Oversold: EXP
- Moderately oversold: CBK and OGE
- Trying to hold some rising trendline support: $USD
- Attempting to hold the 28 DMA here: TLB
- Trying to hold falling trendline support: $BDI
- Attempting to break above some falling trendline resistance: $CRB, $SPX, ACH, BGS, CLF, CPSL, EWI, KFT, PEP, PLL, PTR, SKS, UYG
- A break out in either direction is on the way for: AAPL, BBT, PG
- 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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