- +1.3
- A possible bottom here for: MOT
- Trying to bottom out in this general area: $BDI, $CRB, $IIX, $WTIC, BGS, EEFT, FRO, MFE, PEG, PGM, PHI, RBS, RJZ
- Oversold: $CRB, B, GF
- Moderately oversold: ACAS, ARM, IYY, KO, MKC, MSCC, NM, PEP, QLD, QQQQ
- Trying to hold some rising trendline support: DVY
- Attempting to hold the 65 DMA here: $PLAT, CSL, GIS
- Attempting to hold the 28 day: PG
- Trying to hold falling trendline support: BMY, CAT, CSIQ
- Trying to break above falling trendline resistance: $SOX, ABX, AMAT, DELL, EGO, GDX, KGC, LPL, NTES, SLW
- A possible top here for: $USD
- More later. 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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