- Yi: +0.4
- Now trying to bottom out: CI, CLF, FXI, NFLX, NOK
- At an average oversold level: COST
- Moderately oversold here: AA, ATI, B, C, CAKE, CAT, COPX, $DJW, IWM, MOS, QCLN, X
- Attempting to hold the 65 DMA here: CVS
- Attempting to hold the 28: AXP, CAR, CSL, F, I, IP, MCD, PEP
- Moderately overbought here: $GASO and $USD
- A break out in either direction is on the way for: GF, GPC, MSI
- Anything posted here may be off base of course.
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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