- Yi: +2.7
- A possible bottom here for: GFI
- Now trying to bottom out: CVS, $GOLD, $PLAT,
- Moderately oversold: MCD, MOS, SLV
- Attempting to hold the 28 day moving average: SYY
- Up against the 65 day: M
- Up against the 28 day: CAKE
- Moderately overbought: AXP, CLF, $CRB, FXI, GLW, GPC, IDA, MSFT, NAT, NCR, PEGI, PHI, Q, QLD, SCHB, SHAK
- Toppy here: CAR, $DJW, DRI, $NDX, NTES
- And as is always the case, anything posted here may 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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