- Yi: +8
- Trying to bottom out here: JOSB, PHI, RBS, RJA
- Oversold now: PHI and RBS
- Moderately oversold at this level: BA, JOSB, KFT, LMT, PEG, TAN, TSL, UGP
- Now trying to hold some rising trendline support: $IIX, $OEX, AA, AMSC, FCX, GE, GLW, IBM, IFN, IWM, IYY, MEOH, MKC, MOT, MSFT, NM, PBY, QCOM, SCHB, SEED, SSO, TOT
- Attempting to hold the 65 DMA here: CSIQ, DELL, EEFT, FUQI, LPL, MBI, NOK, NWL, PGM, RAIL, SEE
- Attempting to hold the 28 DMA here: $DJX, $OEX, AAPL, ASA, CAT, DDM, DVY, GLD, PAYX, PX, RJZ, STX, T
- Extremely overbought: TSLA
- Toppy here: $GOLD-weekly, MTH, PRBLX-weekly, UGA
- A break out in either direction is on the way for: FSLR
- 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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