- Yi: +5.4
- ANF, DBA and $GASO are attempting to bottom out in this area.
- AVAV, COH, $COPPER and $CRB are trying to bottom out.
- AIG and IYG are now trying to hold rising trend line support.
- C is attempting to hold the 65 day moving average.
- B and DUST are attempting to hold the 28 day moving average.
- AA is up against falling trend line resistance.
- BA, $DJGSP, EWA, GDX and $XAU are up against the 65 day moving average.
- AEM, ASA, GBTC and SOYB are up against the 28 day moving average.
- AGQ, BWA, CAFE, CIEN, DBP, $DJW, FB, FXI, GLDI, GT, TWTR, and XLK are now moderately overbought.
- CHK is at the average overbought level.
- CSCO, $FXT, SMH and TWTR are a bit toppy at this point.
- SBUX 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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