- Yi: +5.36
- Oversold: $VIX
- Up against rising trendline resistance: ARM, KFT, LUFK
- Attempting to break above the 65 day here: AVP, AXP, CTB, FRO
- Moderately overbought now: $DJX, $SPX, $XOI, AXP, B, BGS, BMY, DDM, FCX, GF, GOOG, KFT, LEN
- Overbought: AAPL, CAKE, CBK, CSCO
- Toppy here: $BDI, $NYA50R, BA, CAKE, CBK, CLF, DVY, IDA, IFN
- Extremely overbought: BA
- 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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