- Yi: +7.25
- Now trying to bottom out: FRO
- Moderately oversold: AXP, NEM, PEP, RBS
- Trying to hold some rising trendline support here: AVP, DELL, SHLD
- Attempting to hold the 28 DMA here: EWJ
- Up against rising trendline resistance: $HGX, AMAT, RJA
- Up against falling trendline resistance: $WTIC, AVAV, BPOP
- Up against the 65 DMA here: LMT and WFC
- Moderately overbought: COST, LUFK, USD
- Standard overbought: $IIX, $OEX, CSL, F, KFT, NST, NTES, PX, V
- Toppy here: $SPX, C, COGO, CSL, GOOG, IRF, PRBLX-weekly chart, PX, QQQQ, SNA, TSM
- A possible top here for: AQA.TO
- A probable top here for: GF
- 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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