- Yi: +4.3
- Possible bottom here for: DB
- Trying to bottom out in this area: AVAV and $UST30Y
- Attempting to hold the 65 DMA here: DBA
- Attempting to hold the 28 day: CPER and SGG
- Up against falling trend line resistance: AA, AIG, BAC
- Up against the 65 DMA: C
- Up against rising trend line resistance: BMY
- Moderately overbought: CSCO, CSL, DIS, HSNI, IJR, IYG, IWM, MDY, $NDX, NIB, $SPX, XLE
- At the average overbought level: COST, GE, TWTR
- Toppy here: $PLAT and $SILVER
- A possible top here for: GLDI
- A break out in either direction is on the way for: IYE, FCX $FXT, $XOI
- 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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