- Yi: +1.10
- A possible bottom here for: DM and HPQ
- Now trying to bottom out in this area: $DJX, $GASO, $HGX, $OEX, $SPX, $WTIC, $XOI, A, AA, AAPL, ACH, AMAT, AMSC, AXP, B, BPOP, BPZ, CAKE, CBK, CREE, CSCO, DDM, ELN, EWI, GE
- Extremely oversold: BAC, BBT, FUQI, GMR
- Oversold: $OEX, $WTIC, AA, BA, C, CAKE, CREE, ELN, KBE
- Moderately oversold: $CRB, $DJW, ACH, CAT, COGO
- Trying to hold some rising trendline support: $IIX, $NYA50R-weekly, CNK
- Attempting to hold the 65 DMA here: CNK
- Up against falling trendline resistance: CTB, ENER, LOW
- Up against the 65 day: $VIX and DPS
- Moderately overbought now: GLD
- Toppy here: $BDI
- 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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