- Yi: +20.18
- Trying to bottom out: DM
- Attempting to hold the 28 DMA here: NOW
- Up against the 28 DMA: JACK
- Up against falling trend line resistance: ANF, DIS, EBAY, KMB
- Up against rising trend line resistance: COST, CSX, IYJ, NSC
- Moderately overbought: APD, AQUA, CHD, HAS, $HGX, HRB, JNPR, LL, MBI, MMC, MMM, MTH, PG
- Average overbought: DNB, HD, IJH, LOW, MAT, MDY
- Getting toppy here: DNKN, F, FL, $INDU, KSS, MOS, PFF
- A break out up or down is setting up for: CAL, CC, GG, $GOLD, JNUG, LM
- 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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