- Yi: +4.87
- Now trying to bottom out: GMR and STX
- Trying to hold some rising trendline support: BPOP, EWJ, LOW, PTR, UYG
- Attempting to hold the 28 DMA here: B, FUQI, TLB
- Up against rising trendline resistance: COST
- Up against the 28 day: $GOLD
- Up against some falling trendline resistance: ELN and SKS
- Up against the 65 DMA here: ABX and CNK
- Moderately overbought now: BA, CREE, MOT, NWL, SLW, WOR, WY, X, XOP
- Overbought: IFN, NTES, SHI, SUN, UGP
- Toppy here: $NYA50R, $WTIC, PHI, SU, SUN, T, UGP
- Going parabolic: RJA
- A break out in either direction is on the way for: C, CBK, DELL, IRF, QCOM, RAIL
- 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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