- Yi: +4.7
- AVAV is trying to bottom out at this level.
- DF is now extremely oversold.
- AU, HD and NIB are at the average oversold level.
- AA, AAPL, and CAKE are moderately oversold.
- BAC, CAR, IJH and TWTR are attempting to hold the 65 day moving average.
- AVP, BWA, C, CIEN, IYG and STMP are attempting to hold the 28 day moving average.
- MET is moderately overbought.
- SGG is setting up to break out in either direction.
- 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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