- LPL, TSLA and WFM are possibly forming a bottom in this area.
- DYN, GE, LOW, MCD, MKC, PEG, QCLN, SHAK, SHLD, SPWR and UGP are trying to bottom out.
- SPWR is now extremely oversold.
- CSL, CVS, FCX and SHLD are at the average oversold level.
- EWI, F, LEN, MAT, MOS, SU, USO and XLE are moderately oversold.
- DBC is trying to hold some trend line support.
- EBAY and MSI are attempting to hold the 28 day moving average.
- CREE is setting up to break out in one direction or the other.
- Anything posted here 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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