- Yi: +3.54
- Now trying to bottom out in this area: ABX and AEM
- Extremely oversold: WDC
- Oversold: STX
- Moderately oversold: LEN, LOW, PBY, WSO
- Trying to hold some rising trendline support: ARM, CHK, FUQI, GOOG, MSCC, OGE, PAYX, PBW, PHI, QQQQ, V
- Attempting to hold the 65 DMA here: $WTIC and VFC
- Attempting to hold the 28 day: $HGX, MMC, X
- Now up against rising trendline resistance: GLW and IFN
- Up against falling trendline resistance: NEM
- Moderately overbought: AVP and TOT
- Overbought: TKR
- A break out in either direction is on the way for: FXI
- 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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