- Yi: +5.9
- Moderately oversold: DF
- Trying to hold rising trend line support: BAC
- Attempting to hold the 65 DMA here: UNG
- Attempting to hold the 28 DMA here: CAR and WFC
- Moderately overbought: BWA, COST, STMP
- At the average overbought level: $FTSE
- Toppy here: ASA, $PLAT, TWTR
- A possible top may be forming here for: B
- Anything may be off base, 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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