- Yi: +3.4
- A possible bottom here for: DB
- Now up against falling trend line resistance: AXP, COPX, CVY, DIS, GLW, IJR, IWM, MSFT, $SPX, $XOI
- Now up against the 65 day moving average: BA, C, CREE, CSIQ, DYN, GLW, IP, JPM
- Up against the 28 day: B, CVS, FEU, FNDF, SMH
- Moderately overbought: BMY, CAR, CLF, CNK, CSL, DIS, $DJW, GE, GPC, IJH, IP, IYE, IYJ, IWM, IP, LOW, LPL, MDY, MED, SBUX, $SPX, TWTR, $XOI
- At the average overbought level: ASA, CEF, DBP, $FTSE, HSY, IDA, JNJ, MKC
- Toppy here: CNK, EROS, IDA, JNJ, MKC
- 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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