- Yi: +7.2
- Now trying to bottom out in this area: NTES
- Trying to hold some rising trendline support here: $HGX, AVAV, BA, C, SHLD, WATG
- Attempting to hold the 65 day moving average: COST and CTB
- Up against rising trendline resistance: NEM, NOK, RBS
- Trying to break above falling trendline resistance: GG and GOOG
- Attempting to break above the 65 DMA here: CSIQ and TOT
- Moderately overbought now: IRF, KO, NM, PGM, SLV, SYY, UGP
- Toppy here: WFR
- 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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