- Yi: +5.5
- Now trying to bottom out: $GASO
- Moderately oversold: $CRB
- Attempting to hold the 28 DMA here: GE
- Up against falling trend line resistance: GT
- Up against rising trend line resistance: CVGRX
- Moderately overbought: CHK and CMG
- At the average overbought level: CNK
- Toppy here: EBAY, GM, GOOG, MCD
- A possible top may be in place for: LPL
- 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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