- P is attempting to bottom out in this area.
- FXI, JNUG and O are at the average oversold level.
- MKC, NTES, PEP and PG are moderately oversold.
- GOOG is attempting to hold falling trend line support.
- HSY and NFLX are attempting to hold the 28 DMA here.
- LOW is up against falling trend line resistance.
- HSNI and IP are up against the 28 day.
- GE, GPC, M, MMC and MOS are moderately overbought.
- FCX and JPM are at the average overbought level.
- MET is toppy here.
- 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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