- Yi: +2.22
- A possible bottom here for: WDC, WFR, WSO
- Trying to bottom out in this area: BAC, CSIQ, FUQI, GMR, IBM, IP, MEOH, OCR, SCHG, STX, SYY, TOT, USB, XLF
- Oversold: CSCO
- Moderately oversold: X
- Trying to hold some rising trendline support: PEG and PG
- Attempting to hold the 65 DMA here: PEP
- Trying to hold falling trendline support: HCBK and NOK
- Up against rising trendline resistance: EGO and SSRI
- Up against falling trendline resistance: $DJW, $HGX, $XOI, AA, ARM, DELL, EXP, FSLR, IYY, KBE, LPL, NST, OGE, PAYX, PBW, SU, URE
- Up against the 65 day: $PLAT and PGM
- Moderately overbought now: GDX, GG, NEM, SLV
- Overbought: ABX and HOGS
- A break out in either direction is on the way for: QCOM
- 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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