- Yi: +5.35
- Attempting to hold the 65 DMA here: CHK, MFE, PHI
- Attempting to hold the 28 day: STX
- Up against rising trendline resistance: AA
- Now trying to break above some falling trendline resistance: CSIQ, MTH, TAN, TOT, TSL
- Attempting to break above the 65 DMA here: FRO, GOOG, SEED, VOD
- Moderately overbought now: $BDI, $DJW, BGS, ELY, SLV, WOR
- Overbought: RAIL
- Extremely overbought: CNK
- Toppy here: LUFK and PEP
- A break out in either direction is on the way for: AMAT and IBM
- 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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