- Yi: +4.0
- AMCC is trying to bottom out at this level.
- GPC is at the average oversold level.
- EBAY is moderately oversold.
- COH and DB are up against falling trend line resistance.
- IDA is up against the 65 DMA here.
- SBUX is up against the 28 day.
- AXP, DB, EROS and IYG are moderately overbought.
- CSIQ and $WTIC are a bit toppy here.
- $NDX, SMH and XLK are setting up to break out in either an upward or downward direction.
- Anything posted 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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