- Yi: +10
- A probable bottom here for: QID
- Now trying to bottom out: ABX and AQA.TO
- Standard oversold: FUQI
- Moderately oversold: $XAU, ABX, AVP
- Now trying to hold some rising trendline support: DELL, F, NAT
- Attempting to hold the 65 DMA here: AGQ, CTB, KFT
- Attempting to hold the 28 day: AAPL
- Up against rising trendline resistance: $OEX, $SPX, BBT, DDM, HIT
- Up against falling trendline resistance: HOGS and PTEN
- Up against the 65 day: CSCO and NTES
- Moderately overbought: ACAS, AKAM, AVAV, AXP, BBT, CAT, CSIQ, DVY, EWI, IDA, MMC, NFLX, PG, SU, SUN, TAN
- Overbought: $OEX, $SPX, ATI, BA, DDM, FSLR, GF, GOOG, LMT
- Extremely overbought: $XOI, AMAT, MMI
- Toppy here: HPQ, IRF, IYY, PTR, SCHC
- A possible top here for: CLF
- A probable top here for QLD
- 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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