- Yi: +8.1
- Now trying to hold rising trendline support: $BDI-weekly and $WTIC
- Attempting to hold the 28 DMA here: CNK
- Up against rising trendline resistance: ELN
- Trying to break above falling trendline resistance: $VIX
- Attempting to break above the 65 DMA here: $USD
- Toppy here: ACF, ARM, CAT, CREE
- Going parabolic: AXP
- A break out in either direction is on the way for: ENER
- More later. 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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