- Yi: +6.95
- Moderately oversold: COGO
- Trying to hold some rising trendline support: CNK, CSCO, IBM, KO
- Trying to break above falling trendline resistance: $GOLD, IFN, UGP
- Attempting to break above the 65 DMA here: EWI
- Moderately overbought now: GF and TLB
- Overbought: AVP and TKR
- Extremely overbought: AAPL
- Toppy here: JOSB, UYG, WFC, XLF
- A break out in either direction is on the way for: WOR
- 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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