- Yi: +6.1
- AGQ, $DJGSP, PTM and $XAU are possibly forming a bottom at this level.
- CAFE and GLDI are attempting to bottom out at this level.
- CIEN, DBA, DPS, KO, NDAQ and TSM are moderately oversold.
- JJG and SMH are attempting to hold rising trend line support.
- DF and STMP are attempting to hold the 28 DMA here.
- BWA, $CRB, UNG and $WTIC are moderately overbought.
- DRI, IYE, PAG and $XOI are at the average overbought level.
- PRU may be topping out.
- AMTD is possibly forming at this level.
- 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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