- Yi: +6.1
- A probable bottom here for: QLD
- A possible bottom here for: DZZ
- Trying to bottom out here: GMR
- Moderately oversold now: ABX, FRO, LMT, LOW, MOT, NAT, TLB, WY, X
- Trying to hold some rising trendline support: $CRB, $XOI, CHK, RJI, SEED, SNA, TIE, TOT
- Attempting to hold the 65 DMA here: ABX, LOW, XLF
- Attempting to hold the 28 day: SLW, T, TSL, UGA, YUII
- Up against rising trendline resistance: KO
- Moderately overbought now: FSLR, NM, PRBLX-weekly.
- Overbought: GPC, PG, SKS, STX, VOD
- Toppy here: DELL and PTEN
- A possible top here for: GOOG, IRF, PBY, RJZ, SEE, SKS
- A probable top in this area for: $DJX, $GOLD-weekly, $IIX, $SPX, BLL, DDM, IWM, OGE, QLD, QQQQ
- A break out in either direction is on the way for: TSLA
- 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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