- Yi: +7.7
- Moderately oversold: QID
- Now trying to hold some rising trendline support: CNK
- Up against the 28 DMA here: AGQ and MED
- Up against the 65 day: $XAU, CHK, GG, MBI, NAT, RJZ, SHI, STX
- Moderately overbought now: $IIX, ARMH, GOOG, IWM, IYY, KFT, NTES, PTR, QLD, ROK, SCHB, SPWRA, SUN
- Standard overbought: AAPL, DPS, NFLX
- Toppy here: $IIX, B, BMY, CAKE, CLF, CSL, DELL, PTEN
- Anything posted 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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