- Yi: +7.15
- Now trying to bottom out: $BDI
- Oversold: BAC
- Moderately oversold here: $WTIC, BMY, DZZ, EWI, KBE, NM, NOK, NTES, NWL
- Trying to hold some rising trendline support: AA, MOT, QCOM
- Attempting to hold the 65 DMA here: BBT, C, CHK, ELN, EWA, LDK, LEN, MSFT, PTR, RJA, RJZ
- Attempting to hold the 28 day: B, BLL, CNK, MMC, SKS
- Trying to hold some falling trendline support here: KBE
- Up against the 65 DMA here: FAZ
- Moderately overbought: DGP, GLD, HPQ
- Overbought: AGQ, HIT, IRF
- Toppy here: SLV
- A break out in either direction is on the way for: AVP
- 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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