- Z is trying to bottom out.
- SHAK is at the average oversold level,
- MTH and UUP are moderately oversold.
- TKR is attempting to hold the 65 day moving average,
- MAT is attempting to hold the 28 DMA.
- CSIQ and IDA are now up against falling trend line resistance.
- CAKE, CHK, DBC, OIL, PTEN, UGA, USO, XLE and XON are now moderately overbought.
- MED and UGP are a bit toppy here.
- RGLD, STX and TSLA are getting ready to break out in one direction or the other.
- Anything posted here may be off base of course, depending on market conditions.
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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