- JCP, NIB and SPWR are possibly forming a bottom at this level.
- SHLD is extremely oversold.
- FL, $FTSE, $GASO, PYPL, RAIL, RYE, SU and XLE are moderately oversold.
- DM, MOS, SFTBY, SCHB and SCHX are attempting to hold rising trend line support.
- DBA, FNDF, MSN, NOV and TILE are attempting to hold the 65 DMA.
- MDY, QCLN and WEAT are attempting to hold the 28 DMA.
- JJN is up against falling trend line resistance.
- DIS is moderately overbought.
- PHI is 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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