- Yi: +6.3
- Trying to bottom out in this area: CBK and CBK
- Moderately oversold: CTB, FRO, TLB, X
- Trying to hold some rising trendline support: CLF, GMR, JASO, SPWRA, TAN, TSL
- Attempting to hold the 65 DMA here: $HGX, AMAT, WFC
- Attempting to hold the 28 day: BMY
- Up against rising trendline resistance: GOOG, SNA, VOD
- Up against falling trendline resistance: LMT and MSFT
- Up against the 65 DMA here: IP and PG
- Moderately overbought: KBE, RAIL, RBS, SHI, SNA, URE, WFR, WSO, XLU
- Overbought: IFN, IWM, JOSB, KGC, KO, LUFK, MEOH, NWL, PEP, PRBLX, PX, RJI, SCHA, SSO, SU, SUN, VFC
- Extremely overbought: FXI, IBM, JCP, MSCC, PHI, PTR, RJZ, UGP
- Going parabolic: GLD and SLV
- A break out in either direction is on the way for: WY
- 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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