- MKC and SLV are possibly forming a bottom here.
- B and CSIQ are at the average oversold level.
- ATI is up against falling trend line resistance.
- FB and UGP are up against the 65 DMA.
- AAPL, UGA and USO are up against the 28 day.
- GDDY, LEN, PAYX, PTEN, QLD, SU and $XOI are moderately overbought.
- AMCC, MTH and Q are at the average overbought level.
- BAC and MMC are toppy here.
- SCHB and STX are possibly forming a top in this area.
- Anything posted here 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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