- Yi: +4.27
- Now trying to bottom out: CREE
- Moderately oversold: AVAV
- Trying to hold some rising trendline support: $PLAT and HOGS
- Attempting to hold the 28 DMA here: MMC
- Now up against rising trendline resistance: LDK
- Now up against some falling trendline resistance: NTES and SYY
- Up against the 65 DMA here: $GASO, BAC, IP, SPWRA, UGA
- Moderately overbought now: $WTIC, ELY, FXI, GPC, IBM, IWM, IYY, KBE, SU
- Standard overbought: EWA, EWJ, IFN, KO, TKR, UGP
- A bit toppy here: GE and PEP
- A possible top here for: FCX, KO, LUFK, PTEN
- A breakout in either direction is on the way for: NM, PAYX, SDTH
- 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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