- Yi: + 50.58
- Trying to hold some rising trend line support: MCD
- Attempting to hold the 28: CAT, $COTTON, $XOI
- Attempting to hold the 65: PEG, VALE
- Up against the 28: HSY
- Up against falling trend line resistance: CSCO, HSY, SDY, TAP
- Moderately overbought: CAR
- Overbought: IP
- Toppy: T
- ABEWISUF: $INDU
- 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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