- Yi: +6.9
- Trying to bottom out in this area: TLB
- Extremely oversold now: $VIX
- Moderately oversold: HCBK
- Attempting to hold the 65 DMA here: BPOP, FSLR, MOT, OCR, WOR
- Up against rising trendline resistance: KGC, PBY, PTR, QLD
- Up against falling trendline resistance: USB
- Moderately overbought now: STX, URE, USD, WATG
- Overbought: ARM, DELL, PTEN, SHI, SKS, WFR
- Extremely overbought: $DJW, FXI, GOOG, LUFK, SSRI, VFC
- Toppy here: F
- A possible top here for: JOSB and MSCC
- A probable top here for: AMSC, IBM, JCP
- Going parabolic: $CRB, FCX, GLD, RJZ, SLV, UGP
- A break out in either direction is on the way for: BMY and FRO
- 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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