- Yi: +4.4
- A possible bottom here for: ENER
- Trying to bottom out in this general area: $VIX and QID
- Attempting to hold the 65 DMA here: BGS
- Up against rising trendline resistance: AEM and BA
- Attempting to break above the 28 DMA here: AXP and WFR
- Now trying to break above some falling trendline resistance: $BDI, $XAU, $XOI, BMY, BPOP, CHK, CSL, EWI, SCHB, SHLD
- Attempting to break above the 65 day: $CRB, $DJW, CTB, FCX, GDX, NST, SLV, SLW, UGP
- Moderately overbought now: $DJX, $IIX, $NYA50R, $OEX, $SOX, $SPX, A, AAPL, CSCO, DDM, DVY, F, FUQI, FXI, GDX, GIS, IRF, IWM, IYY, JOSB, KBE, LMT, MEOH, MMC, PBY, PHI, QLD, QQQQ, SCHB, SCHG, SSO, USD, UYG, XLF
- Toppy here: ARM, BA, F, LMT, MEOH, STX, SWK, TKR, VFC, WHR
- A possible top here for: CLF and CREE
- A break out in either direction is on the way for: MBI
- 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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