- XON is moderately oversold.
- MOS is attempting to hold rising trend line support.
- CLF, PTEN and SPWR are attempting to hold the 65 DMA.
- AA and ATI are attempting to hold the 28 DMA.
- AMCC is up against the 65 day.
- INTC, JNJ, PEG, PEP, PG and TSLA are moderately overbought.
- QLD is a bit toppy in this area.
- COST, CREE, EWI, SCHB, $SPX and $XOI are possibly forming a top.
- CNK, CSL, CTB, HSNI and $SILVER are setting up to break out either up or down.
- 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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