- WFM is moderately oversold.
- OIL is up against falling trend line resistance.
- JCP and JNJ are up against the 65 day moving average.
- O, VOX and XON are up against the 28 day moving average.
- PEGI, SLW and YYY are moderately overbought.
- STX and SYMC are at the average overbought level.
- INTC, IP and P are a bit toppy here.
- MSFT is setting up to break out either up or down.
- 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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