- Yi: +3
- Up against the 28 DMA here: $HGX, AAPL, CAT, EWI
- Up against some falling trendline resistance: ACH, BAC, BBT, CSCO, HCBK, IP, MSFT, OGE
- Up against the 65 day: $HGX, $OEX, $SPX, AXP, BPZ, GE, PTR
- Moderately overbought: $IIX, BMY, COST, EWA, FCX, GIS, JASO, JOSB, KFT, KO, MEOH, MMC, MTH, PEP, PTEN, QCOM, RAIL, RJZ
- Overbought: CLF
- Toppy here: $GOLD
- 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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