- Yi: +2.7
- A possible bottom here for: CTB and TWTR
- Now up against the 28 day moving average: HD, NOK, SHLD, SU, TSLA, VOX, WY
- Moderately overbought at this level: AAPL, CAR, $DJW, DRI, FB, HPQ, HSY, INTC, NAT, NCR, NFLX, PAYX, QVCA, WFM, WOR, WSO
- A break out in either direction is in the cards for: RGLD
- And as is always the case, anything posted here could be way 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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