- Yi: +4
- Moderately oversold now: $VIX and QID
- Up against rising trendline resistance: $USD
- Trying to break above some falling trendline resistance: AEM, AVAV, EWA. LMT, MEOH
- Attempting to break above the 65 DMA here: $DJX, $OEX, ABX, CTB, DDM, FCX, GG, IBM, QQQQ, XLF
- Moderately overbought now: $IIX, A, BAC, BPZ, DDM, GIS, IBM, IYY, JOSB, NEM, OCR, OGE, PG, QLD, QQQQ, SCHB, SDTH, SYY, URE
- Overbought: BA and CLF
- Now extremely overbought: CREE and ROK
- Toppy here: BA, MKC, WDC, WHR
- A possible top here for: LUFK and STX
- A break out in either direction is on the way for: NWL
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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