- Yi: +2.25
- A possible bottom here for: EXP
- Moderately oversold now: MEOH and USB
- Now attempting to hold falling trendline support: RBS and WATG
- Attempting to break above the 28 DMA here: CAT and SKS
- Trying to break above some falling trendline resistance: $DJX, $PLAT, $WTIC, ACH, AMAT, EWJ, GLW, IRF, IYY, LUFK, MOT, OCR, RAIL, SLV, SSO, SUN, TAN, TSM, WHR, XLF, XOP
- Trying to break above the 65 DMA here: AAPL, JASO, MFE, PEP, SLW, USD
- Moderately overbought now: AEM, CLF, CREE, MTH, VFC, WSO
- Overbought: LEN and ROK
- A break out in either direction is on the way for: COGO, GOOG, SHLD, STX
- 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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