- Yi: +5.5
- Moderately oversold: DBA and SOYB
- Trying to hold rising trend line support: CEF and NIB
- Attempting to hold the 65 DMA here: BGS and $UST30Y
- Attempting to hold the 28 day: GPC
- Up against falling trend line resistance: I
- Moderately overbought: CIEN
- Average overbought: TWTR
- Extremely overbought: SMH
- Toppy here: IP
- A possible top is in place for: AA, CAR, FXI, $FXT, $NDX
- 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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