- Yi: +6.57
- Trying to bottom out in this area: NTES, QCOM, SPWRA, WFR, X
- Oversold: AA, ACH, EWI, FCX, FUQI, GOOG, NOK, NTES, SEED, SPWRA, TAN, TOT
- Moderately oversold: $CRB, $SOX, $XOI, ACF, AVP, BPZ, COGO, EWA, EWJ, FXI, GLW, HCBK, IFN, PBW, PTR, QCOM, RJZ, SHI, STX, TIE, TSL, TSM, V, VOD, WATG, WFR, WOR, X
- Now trying to hold some rising trendline support: $DJW-weekly, $GOLD, $HGX, AMAT, EXP, FSLR, GDX, GF, GLD, JASO, JOSB, KBE, KFT, LDK, LMT, LPL, MKC, NEM, NST, OCR, RGLD, SDTH, SSRI, SYY, URE, WSO, WY
- Attempting to hold the 65 DMA here: $OEX. $PLAT, $SOX, AMAT, BAC, C, CAKE, CBZ, CREE, ELY, GPC, NM, PGM, SCHA, SCHG, TIE, USD, WDC, XOP
- Attempting to hold the 28 day: AAPL, ASA, CAT, RBS, ROK, WFC
- Trying to hold some rising trendline support: ELN
- Overbought: $USD, $VIX, DM
- A break out in either direction is on the way for: KFT
- 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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