- Yi: + 72.21
- Attempting to bottom out: $CRB, QID, UNG
- Trying to hold some rising trend line support: GOOG
- Attempting to hold the 28: LIN, LMT
- Up against the 28: AVAV, $GASO
- Up against some falling trend line resistance: APD, GPC
- Up against some rising trend line resistance: CLF, INTC
- Moderately overbought: AEM, CAR, CPB, GFI, GOLD, JNUG, MET, PM, RGLD, SEE, SIL, TAP, $XAU
- Overbought: AAPL, BGS, C, D, IVW, KHC, $NDX, NOBL, QCOM, QLD, QQQ, SCHB, SCHX, SDY, $SPX, STX, X, XLK, XRX
- Toppy: AIG, KHC
- 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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