- Yi: +4.5
- BMY and COST are possibly forming a bottom here.
- ABX, AU, B, CLF, COH, COPX, DBA, HD, SBUX, SFTBY, and SOYB are trying to bottom out.
- $NYA50R is oversold.
- JJN, WFC, and $XOI are moderately oversold.
- DRI is trying to hold rising trend line support.
- STMP is attempting to hold the 28 day moving average.
- 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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