- Yi: +5.51
- Trying to hold some rising trendline support here: F
- Attempting to hold the 28 DMA here: BLL
- Up against rising trendline resistance: CBK and FXI
- Up against the 28 DMA here: CBZ
- Up against some falling trendline resistance: B, BPZ, DELL, ELY
- Up against the 65 day: EXP, FUQI, HPQ
- Moderately overbought: AMAT, CHK, CLF, DELL, GLW, HOGS, HPQ
- Standard overbought: ACH
- Toppy here: AVP, COST, EEFT, EWA
- A possible top here for: FSLR, GLD, IBM
- A break out in either direction is on the way for: BGS and IFN
- 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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