- Yi: +4.5
- Trying to bottom out in this area: QID
- Moderately oversold now: C, KBE, MTH, PLG
- Attempting to hold the 28 day moving average: AVAV, NAT, RBS, UYG, WDC, XLF
- Attempting to break above the 65 day: MMC
- Moderately overbought now: COGO, GA, GIS, LOW, VFC
- Standard overbought at this level: JASO, SEED, SHLD
- Toppy here: $PLAT, BA, CSCO, DDM, EWA, F, GF, IWM, IYY, KO, MOT, NTES, PGM, QQQQ, SLW, TAN, TIE, UGA, WOR
- Possible top here for: AVP
- A break out in either direction is on the way for: BAC
- 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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