- Yi: +1
- Now trying to bottom out: DB
- Extremely oversold: $VIX
- Moderately oversold: WFC and P
- Attempting to hold the 28 DMA here: PAYX
- Up against the 28 day: BGS and GFI
- Up against the 65 day: BMY
- Moderately overbought now: NFLX, NTES, PHI
- Standard overbought: AAPL, FB, GLW, MKC, MMC, O
- Toppy here: $NDX, PFF, $SPX, XLK
- A possible top here for: HD
- A break out in either direction is on the way for: BAC
- 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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