- Yi: +6.31
- A possible bottom here for: $USD
- Oversold: $VIX
- Moderately oversold: DPS and FSLR
- Trying to hold some rising trendline support: GIS, LMT, MBI, PGM, PHI, SYY
- Attempting to hold the 65 DMA here: PEP
- Up against rising trendline resistance: AVP, LDK, TAN
- Up against some falling trendline resistance: AVAV and IP
- Up against the 65 DMA here: CSL, FRO, MSFT
- Moderately overbought now: ACAS, C, CSCO, CSL, DELL, FUQI, GE, NM, PG, SDTH, SEED
- Overbought: CAT, CLF, ELN, F, JOSB, RAIL, RJA, SUN
- Extremely overbought: $CRB, HOGS, JCP, MSCC
- Toppy here: $NYA50R-weekly, $SPX, AAPL, CNK, DDM, EEFT, GE, GOOG, HOGS, IFN, IWM, IYY, JCP, JOSB, SUN
- A possible top here for: GPS and IBM
- A probable top here for: PLL
- Going parabolic: FCX
- A break out in either direction is on the way for: HCBK and SHLD
- 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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