- Yi: +9.34
- Trying to bottom out here: ENER, FUQI, IFN, TLB
- Extremely oversold now: TLB
- Now moderately oversold: A, AVP, MED
- Trying to hold some rising trendline support: $SPX, CSCO, MSFT, SLE
- Attempting to hold the 65 DMA here: $IIX, B, DM, GOOG, MMI, PBW, PG, SEED, SNDK, SPWRA, YUII
- Attempting to hold the 28 day: $OEX, DVY, PAYX, UYG
- Now trying to hold some falling trendline support: PHI
- Up against rising trendline resistance: $GASO, CAT, UGA
- Up against falling trendline resistance: AQA.TO and V
- Up against the 65 DMA here: AGQ
- Moderately overbought now: $VIX and RJZ
- Standard overbought: PTEN, RJI, SU, XOP
- A break out in either direction is on the way for: PBY
- 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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