- FXE is attempting to bottom out at this level.
- JDST and SYMC are up against falling trend line resistance.
- AAPL, EBAY, GOOG, MCD, $NDX, QLD and SYY are moderately overbought.
- DIS and GM are at the average overbought level.
- AIG, $DJW and $SPX appear to be topping out here.
- BAC, CHK, CWI, FNDF, IP, MET and MTH are possibly forming a top at this level.
- 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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