- Yi: + 52.95
- Attempting to hold the 28: CSCO, HOOD, MMC, MS, NDAQ
- Attempting to hold the 65: EMR, QSR, TPR, TUP
- Up against the 28: RY
- Up against some falling trend line resistance: NIB
- Moderately overbought: AA, BIDU, PICK, STLD
- Overbought: ADM, NTR, $XOI
- Extremely overbought: WOLF
- Toppy: CBRL, CPB, FLR, IYE, RYE, SU, XLE, XOM
- 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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