- Yi: +1.2
- Trying to bottom out here: BAC, F, GM, HCBK, HPQ, MBI, RAIL, SEE
- Moderately oversold now: PRBLX
- Trying to hold some rising trendline support: EGO and QID
- Trying to hold falling trendline support: SEED
- Up against the 28 DMA here: AXP
- Now up against some falling trendline resistance: $WTIC, AMAT, ATI, BLL, C, CAT, CSL, DDM, FSLR, GE, GOOG, IYY, MSFT, NCR, PBW, PEP, QCLN, QID, ROK, SCHB, SCHC, SCHM, SNDK, SUN, SWK, TSL
- Up against the 65 DMA here: GPC
- Moderately overbought now: BMY
- A possible top here for: $The $GOLD-weekly chart.
- A break out in either direction is on the way for: GLW
- 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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