- Yi: +2.61
- A possible bottom here for: EEFT
- Now trying to bottom out: AVP and EWJ
- Attempting to hold the 65 DMA here: QID and TLB
- Up against the 28 DMA here: $IIX, GF, GOOG
- Now up against some falling trendline resistance: $NYA50R, $OEX, CAT, CSL, DELL, EWJ, GLW, IWM, KO, OGE, PLL, QLD, QQQQ, RAIL, SUN, SWK
- Up against the 65 day: IBM and SU
- Moderately overbought: FRO, GIS, LUFK, MKC, TIE
- Toppy here: FRO
- A possible top here for: AAPL
- 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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