- Yi: +10
- Now attempting to bottom out in this area: BA and WFR
- Extremely oversold: GMR
- Standard oversold: NTES and V
- Moderately oversold now: ACH, NEM, WFR
- Trying to hold some rising trendline support: AGQ, ASA, CLF, ELY, IP, SHI, SSRI, URE
- Attempting to hold the 65 DMA here: ASA, CBZ, CNK, DGP, GLD, SCHE
- Attempting to hold the 28 day: $IIX and SLW
- Up against some falling trendline resistance: HPQ
- Up against the 65 DMA here: PEG and UGP
- Moderately overbought: COGO
- Standard overbought: MKC, SEE, WHR
- Extremely overbought: SNA
- A bit toppy here: BMY, CAT, GIS, MSFT, SEE
- A possible top here for: VZ
- A probable top here for: CSL
- A break out in either direction is on the way for: SLV
- 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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