- Yi: +4.6
- PTM is at the average oversold level.
- CAFE is trying to hold rising trend line support.
- F and JJG are up against falling trend line resistance.
- BMY is up against the 65 day.
- AMCC, HD and MTH are up against the 28 day.
- CMG, DBC, NFLX and OIL are moderately overbought.
- $FTSE is at the average overbought level.
- EWA and NUS are toppy here.
- CAT, CTB, GLW, HPQ and SMH are posiibly forming a top here.
- CVGRX, GE and $NYA50R are setting up to break out in either direction.
- Anything posted may be off base.
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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