- Yi: +5.1
- NIB is possibly forming a bottom in this area.
- BGS and CSIQ are at the average oversold level.
- AVP and CTB are moderately oversold.
- $VIX is attempting to hold rising trend line support.
- BBBY and $DJW are up against falling trend line resistance.
- BA is up against rising trend line resistance.
- BBBY, CAR, HD and BMY are moderately overbought.
- B, BAC, C, CSL DB, IJR, IWM, $UST30Y and WFC are at the average overbought level.
- $COPPER is extremely overbought.
- AA, CAT, COPX, IYG and IYJ are extremely overbought.
- CPER is possibly forming a top in this area.
- COPX has gone parabolic.
- 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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