- Yi: +8.2
- CAFE is trying to bottom out here.
- DPS is up against the 65 DMA.
- KO is up against the 28 DMA.
- MSI and SMH are up against rising trend line resistance.
- BBBY, HD and NDAQ are moderately overbought.
- BWA, CW, FL, IR, IWM, MDY, MSI, PAG and POT are at the average overbought level.
- IJH, IJR, IYG, IYJ and PRU are extremely overbought.
- CW is a bit toppy here.
- DRI and IYG have gone parabolic.
- 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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