- Yi: +5.75
- Now moderately oversold: BPZ
- Trying to hold some rising trendline support: AEM, CAT, JASO, SLW
- Now up against rising trendline resistance: A
- Trying to break above some falling trendline resistance: $VIX, CSIQ, TSL
- Attempting to break above the 65 DMA here: LDK, SPWRA, TSM
- Moderately overbought: $HGX, C, EWA, EXP, FUQI, GE, GMR, MBI, NAT
- Overbought: ACF, B, CSL, KBE, PTR, QLD, QQQQ
- Toppy here: $HGX, CSCO, EWA, IRF, LMT, MEOH, MKC, TIE, URE
- A possible top here for: ACAS
- Has gone parabolic: CNK
- A break out in either direction is on the way for: GPC and PGM
- 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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