- Yi: +4.5
- CAR, NOV AND $UST30Y are now moderately oversold.
- IDA is attempting to hold the 65 day.
- UNG is attempting to hold the 28 day.
- AA, CREE, CSL, MTH and $NYA50R are now up against falling trend line resistance.
- COH, LOW, MKC and NCR are up against the 65 day.
- B, HD and MTH are up against the 28 day.
- COPX, EBAY and SMH are up against rising trend line resistance.
- CAT, EWA, IYJ and $XOI are moderately overbought.
- CANE, GLW, HPQ, JJN and SGG are toppy in this area.
- 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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