- Yi: +1.7
- Trying to bottom out: EWA, HOGS, HPQ
- Up against some falling trendline resistance: $HGX, $OEX, $SPX, C, CAT, DDM, DVY, FSLR, GF, GM, LEN
- Up against the 65 DMA here: $IIX, DM, DVY
- Moderately overbought: CSCO and FUQI
- Overbought: $BDI
- A break out in either direction is on the way for: $CRB
- Anything posted here may be off base. There may be some more signals later before the end of regular market hours.
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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