- Yi: +3.2
- A possible bottom here for the: $BDI
- Trying to bottom out in this area is: ENER
- Attempting to hold the 65 DMA here: $VIX
- Attempting to break above the 28 day: ASA, AXP, RJA, WDC
- Now trying to break above some falling trendline resistance: $XOI, A, ABX, BAC, BBT, BPOP, C, EEFT, ELN, GF, JOSB, KBE, KFT, MEOH, MSCC, NST, PHI, VOD, WFR, WY
- Attempting to break above the 65 day: $CRB, DELL, EGO, GLD, KGC, QQQQ, RJI, RJZ, SLW, TIE, UGA
- Moderately overbought now: AEM, BGS, ELY, IDA, IWM, MFE, NTES, PG, PLL, SCHA, SDTH, STX, WOR
- Overbought: GPC
- 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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