- Yi: +5.2
- $UST3M and $VIX are at the average oversold level.
- IJH and IJR are moderately oversold.
- $VIX is trying to hold rising trend line support.
- COH, CSIQ, DYN, GLDI and NOV are up against falling trend line resistance.
- AA, CSL, SBUX and $WTIC are up against the 65 day.
- B, DF and IYG are up against the 28 day.
- ATI, BGS, $CRB, CREE, $FTSE, IWM, JJN, MDY, and SFTBY are moderately overbought.
- CTB is at the average overbought level.
- CAR, $NDX, SMH and XLK are a bit toppy here.
- 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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