- Yi: +5.55
- Now attempting to bottom out in this area: BAC
- Standard oversold: UUP
- Moderately oversold: CBK and LMT
- Trying to hold some rising trendline support: $VIX, AVP, B, BMY, CAT, FSLR, HPQ, JOSB, MMC
- Attempting to hold the 65 DMA here: MMC and TSLA
- Attempting to hold the 28 DMA here: MBI
- Up against rising trendline resistance: KO, NOK, SWK
- Up against falling trendline resistance: BPOP
- Up against the 65 DMA: CSCO and GMR
- Moderately overbought now: $GASO, CNK, ENER, MEOH, NM, SU, SUN, UGA, XOP
- Standard overbought: $XOI, A, CSIQ, FXI, HOGS, PGM
- Extremely overbought now: $CRB, AEM, GF, UGP
- Toppy here: A, CSIQ, LUFK, PBW, SCHB, SWK, TLB, TSL
- A break out in either direction is on the way for: $HGX, GE, RAIL, TIE, USB, XLF
- 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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