- Yi: +3.8
- Trying to hold some rising trendline support here: LEN and MTH
- Now up against rising trendline resistance: BA
- Attempting to break above falling trendline resistance: $DJW, ARM, DELL, F, GLW, MKC, RJA, RJI, SCHA, V
- Attempting to break above the 65 DMA here: BPZ, CAT, NEM, PAYX, UYG
- Moderately overbought now: $GASO, CHK, EWA, FSLR, GG, IWM, LOW, MKC, PEP, PLL, SCHG, SKS, USD, V, WDC, WHR
- Toppy here: AEM and VFC
- A break out in either direction is on the way for: BBT
- 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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