- Yi: +8.3
- Now trying to bottom out: $HGX, AMSC, BPZ, CREE, ELY, MMI
- Oversold: FRO
- Moderately oversold: AA, BBT, LMT, MSFT
- Trying to hold some rising trend line support: KBE
- Attempting to hold the 28 DMA here: $DJX, IWM, NCR
- Up against some falling trend line resistance: EWJ and GLW
- Moderately overbought: ARMH
- Going parabolic: AGQ
- A break out in either direction is on the way for: CLF
- 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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