- Yi: +4.7
- A possible bottom in this area for: ACH and SHLD
- Trying to bottom out now: ANF and TSLA
- Standard oversold: QID
- Moderately oversold: ANF and NTES
- Trying to hold some rising trendline support: LMT, MMC, PEP, X
- Attempting to hold the 28 DMA here: MMC and PEP
- Up against rising trendline resistance: GPC, LEN, LOW
- Up against the 28 DMA: GLD
- Moderately overbought now: MSFT, NFLX, PAYX, QCOM, QLD, QQQ, RAIL, SHI, SNDK, STX
- Standard overbought: BLL. CSL, GE, LEN, PTR, SWK, USB, WDC, WFC
- Toppy here: $USD, AAPL, CTB, F, GE, PAYX, PHI, PTR, QCOM, WDC
- A break out in either direction is on the way for: TLB
- 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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